Question

Sarita borrowed Rs 18000 from Vimla at 3% per annum simple interest for 2 year . If she had borrowed this sum at 3 % per annum coumpound interest , what extra amount would she has to pay ?​

Answer 1

Given :-

• principal (p) ➜ Rs. 18000
• Rate of Interest (R) ➜ 3% p.a
• Time = 2 years

Now , let's find the simple interest !

we know,

$\small\bf\pink{❥Simple\:interest= \frac{PTR}{100}}$

where, P is the Principal , T is the time and R is the Rate of interest .

Now, By Putting the values we get,

$\sf{Simple\:Interest= \frac{(18000 \times 2 \times 3)}{100} }$

$\qquad\qquad\sf{=1080}$

Now ,

In case of compound Interest :-

$\sf\qquad \implies \blue {P(1 + \frac{r}{100} ) {}^{n} }$

$\sf\qquad\implies \: 18000 \: (1 + \frac{3}{100} ) {}^{2}$

$\sf\qquad\implies \: 18000 \times ( \frac{103}{100} ) \times ( \frac{103}{100} )$

$\sf \qquad \implies \pink {19096.2}$

Now,

Difference between 19096.2 and 19080 is 16.2

Therefore,

Sarita has to pay Rs. 16.2 extra .

$\small\tt\green{❥hope\:it\:helps\:uh\::)}$

Answer 2

Mark the above answer Brainliest!!!