Question

Value based question: Raju belonged to a poor family. Once his father decided to borrow Rs.12,000 from a landlord at 6% for 2 years compounded annually. Raju's friend Aditya heard about this and he forbade Raju's father to borrow the money from the landlord. He told his father about a bank which used to give money at simple interest. Knowing the difference between the interests paid, Raju's father became very happy. Now answer the following questions: What excess amount would Raju's father have to paid the landlord? Rs 1400 Rs 1430 Rs 1420 Rs.1440​

Answer 1

Answer:

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