Question

sharmila borrowed 15000 at 12% per annum compond ed annualy for a period of 3 years rithuja borrowed the same ammount 15% per annum for 3 years at simple intrest who pays more intrest and by how much​

Answer 1

SOLUTION :

Let the,
Principal/P. Be, Rs.15000
Rate/R. Be, 12%
Time/T. Be, 3 years
_______________

IN SHARMILA’S CASE :

• A = P(1+R/100) to the power n
=> A = 15000(1+12/100) to the power 3
=> A = 15000(112/100) to the power 3
=> A = 15000*112/100*112/100*112/100
=> A = Rs. 21,073.92
________________

C.I = A - P
C.I = Rs. ( 21,073.92 - 15,000 )
C.I = Rs.6,073.92 (C.I. Paid by Sharmila)
________________

IN RITHUJA’S CASE :

• S.I = P*R*T/100
=> S.I = 15000*12*3/100
=> S.I = Rs. 5,400 (S.I paid by Rithuja)
________________

Here, Interest paid by
Sharmila > Rithuja ( ANSWER )
By ; Rs. ( 6073.92 - 5400 )
= Rs. 673.92 ( ANSWER )
________________

Answer 2

Answer:

Solution :

Case 1: For the first two years <br>

<br>

<br> Case 2: For the remaining time period <br>

months <br>

<br>