Sreedher borrowed Rs 3500 at 6% per annum for 3 years under simple int – InterviewSolution

InterviewSolution

1.	Sreedher borrowed Rs 3500 at 6% per annum for 3 years under simple interest. But, after one year he was asked to pay compound interest for the remaining two years on the sum borrowed initially. How much additional interest Sreedhar has to pay?
Answer» Rs 10 Rs 14.50 Rs 12.60 Rs 1200 Solution :i)Find the SI for 1 year and CI for the LAST TWO YEARS. II) Find SI and CI as per the GIVEN data. iii) Find the difference between CI and SI.

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