Question

which interest is more? p=9000, r=9%, t=183 days (use 1 year=366days)
​

Answer 1

Here, P=6,000 , R=9%=

100

9

=0.09 and n=18months=

12

18

=

2

3

years.

Amount after 2 years =P(1+

2

r

)

2n

=6,000(1+

2

0.09

)

2

2

3

=6000(1+0.45)

3

=6,000×1.45

3

=18291.75

∴Amount=18291.75

∴C.I=A−P=18291.75−6000=12,291.75

C.I=12,291.75

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