Time period =3 years
Rate of interest =3% per annum
Simple Interest =Rs. 36
Simple interest =Principal×Rate×time100
36=x×3×3100
⇒x=36009
⇒x= Rs. 400
I borrowed ₹ 12,000 from Jamshed at 6% per annum simple interest for 2 years. Had I borrowed this sum at 6% per annum compound interest, what extra amount would I have to pay?