Sheela borrows rupees 15000 from her friend at 12 p. A for 3 years at simple interest. Renu borrows the same amount from a bank for 3 years at 10^1/2%p.a. Compounded annually. Who pays more interest and by how much
Answers
Answered by
6
PTR/100 for si
so 15000×12×3/100 = 5400
ci =p(1+r/100)^n
=15000(1+21÷200)^3
=15000×(221÷100)×(221÷100)×(221÷100)
=6746.16
renu pays 1346.16 more than Sheela
so 15000×12×3/100 = 5400
ci =p(1+r/100)^n
=15000(1+21÷200)^3
=15000×(221÷100)×(221÷100)×(221÷100)
=6746.16
renu pays 1346.16 more than Sheela
Similar questions