Ajit borrowed Rs10,000 from Ajay at 5% per annum simple interest for 2 years.If he had borrowed Rs 10,000 at 5%per annum compound interest amount extra he had to pay?

Ajit borrowed Rs10,000 from Ajay at 5% per annum simple interest for 2

1.	Ajit borrowed Rs10,000 from Ajay at 5% per annum simple interest for 2 years.If he had borrowed Rs 10,000 at 5%per annum compound interest amount extra he had to pay?
Answer» ₹25 IS THE EXTRA AMOUNT PAID!!!Step-by-step EXPLANATION:FOR SIMPLE INTEREST,PRINCIPAL = ₹10,000RATE% = 5%TIME = 2 YEARS SO,SI = PRT/100 =(1000052)/100 = 10010 = 1000AMOUNT = SI+P = 1000+10000 = ₹11000FOR COMPOUND INTEREST,PRINCIPAL = ₹10,000RATE% = 5%TIME = 2 YEARSSO,A=P(1+R/100)^N = 10000(1+5/100)² = 10000(21/20)² = (100002121)/2020 = ₹11025SO,EXTRA AMOUNT = ₹11025-₹11000 = ₹25I HOPE YOU UNDERSTOOD THE QUESTION