Answer:
Here, P = 12000, R = 6% p.a. T = 2 years S. I. =\[\frac{P\times R\times T}{100}\] \[=\frac{12000\times 6\times 2}{100}\]= Rs. 1440 Amount (A) = P + S.I. = 12000 + 1440 = Rs. 13440 Again in second case, A = P \[{{\left( 1+\frac{R}{100} \right)}^{n}}\] \[=12000{{\left( 1+\frac{6}{100} \right)}^{2}}\] \[=12000{{\left( \frac{53}{50} \right)}^{2}}\] \[=12000\times \frac{53}{50}\times \frac{53}{50}\] = Rs. 13483.20 I pay extra amount \[=\text{ }{{A}_{2}}{{A}_{1}}\] = Rs. 13483.20 \[-\]Rs.13440 = Rs. 43.20
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