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Fabina borrows ₹12,500at12%per annum for 3 …

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Fabina borrows ₹12,500at12%per annum for 3 year at simple interest and Radha borrows the same amount for tje same time period at 10%per annum,compounded annually.who pays more interest and by how much?

Posted by Vinod Rawat 7 years, 4 months ago

CBSE > Class 08 > Mathematics

1 answers

Sonali Aggarwal 7 years, 4 months ago

Fabina borrows 12500 at simple interest

I = PRT/100

= 12500*12*3/100

= 4500Rs

Radha borrows 12500 at compound interest

A = P{1+r/100}n

⁼12500[1+0.1}3

= 12500*1.331

=16637.5

I =16637.5-12500

= 4137.5

Fabina pays more interest by 4500-4137.5= Rs 362.5

1Thank You

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