Case Study: Start up A woman …

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Case Study: Start up A woman has decided to start a business. She needs 15 Lakh for the business. She has 10 Lakh and needs to take a loan for the remaining amount for 3 years. She has approached a Bank which offered a loan of @10% compounded annually. Her friend offered the loan for @12% p.a. of simple interest. She is in a dilemma as to whom she should approach. i) Help her to resolve this conflict. Show your working. ii) Verify your solution using the formulas. iii) Justify your solution by describing the patterns of simple interest and compound interest. iv) Explain whether your solution makes sense to resolve the dilemma to take a loan which benefits.

Posted by Varsha Sharma 2 years, 3 months ago

CBSE > Class 08 > Mathematics

2 answers

Mahalaxmi Medi 2 years, 3 months ago

1)she have to take compounded annually 2)with simple interest she get only 1,80,000 and compounded annually she get 6,65,500 4) yes ,she have go to bank because she get legally with correct interests but when we are coming to friend she is offering correct but in simple interest it get less

2Thank You

Sania Prajapati 2 years, 3 months ago

I don't have 😧😧

1Thank You

ANSWER

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Posted by Monika 8B 5 months, 2 weeks ago

CBSE > Class 08 > Mathematics