Question

Umesh invested rs 1,20,000 at the rate of 12 p.c.p.a for 2 years in a bank . if he had invested the amount by compound interest instead of simple interest then how much more amount Umesh would have got ?

Answer 1

Let the sum borrowed be Z. Then,

(Zx6x2⁄100) + (Zx9x3⁄100) + (Zx14x4⁄100) = 11400

Therefore, 3Z⁄25 + 27Z⁄100 + 14Z⁄25) = 11400

? 95Z⁄100 = 11400

Z = (11400x100⁄95) = 12000

Answer 2

Answer:

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