Question

varun borrowed rs 60,000 from jayan at 6% per annum simple interest for 2 years. Had he borrowed this money on 6% per annum compound interest, what extra amount would he have to pay?

Answer 1

Step-by-step explanation:

Given P=Rs.12000N=2R=6%

S.I.=

100

PNR

SI =

100

12000×6×2

=1440

A=SI+P=1440+12000= Rs. 13440

Compound interest:

A=P(1+ 100r ) n

=12000(1+ 1006)

(2)

=12000(1.1236)

=Rs.13483.2

Amount =Rs.13483.20

CI=A−P=13483.20−12000

=Rs.1483.20

Extra interest =13483.20−13440=Rs.43.20

Answer 2

sunno woh wala I'd nhi chal rha h iss I'd pr mssg kro dhiruu..