solve and be a braianalist
Answers
(1) For Simple Interest:
Given Principal = 12000, R = 6%, n = 2 years.
We know that SI = PTR/100
= > (12000 * 6 * 2)/100
= > 144000/100
= > 1440.
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(2) For Compound interest:
Given P = 12000,R = 6%, n = 2 years.
We know that A = P(1 + r/100)^n
= > A = 12000(1 + 6/100)^2
= > A = 12000(106/100)^2
= > A = 12000(53/50)^2
= > A = (12000 * 53 * 53)/50 * 50
= > A = 33708000/2500
= > A = 13483.2
We know that CI = A - P
= > CI = 13483.2 - 12000
= > CI = 1483.2
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Now,
Difference in both the interest = 1483.2 - 1440 = 43.2.
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Therefore, you have to pay an extra amount of 43.2 rupees.
Hope this helps!