Question

12. Puneet borrows 32000 from Jalpesh at 10% simple
interest. He lends it to Govinda at 20% compound
interest. How much more would Puneet have gained,
if Govinda had returned the amount in three years
instead of two years?
(A) 5016 (8) 7016 (C) 6016 (D) 4016

Answer 1

Answer:

c

Step-by-step explanation:

6016 is correct answer

Answer 2

Answer:

Puneet would gain a profit of Rs 7016 

Step-by-step explanation:

Given

1) Principal amount(P)= 32000 Rs

Rate of interest(R)= 10%

Time(T)= 3 years

$SI=P*R*T/100$

= 32000*10*3/100= 9600

2) Principal amount(P)= 32000 Rs

Rate of interest(R)= 20%

Time(T)= 3 years

$CI=P(1+R/100)^{T}$

    = 32000[1+(20/100)]³

   = 55296 Rs

C.I for 3 years = 55296-32000=23296

The difference between CI and SI is 13696 which is closest to 7016.

Thus, Puneet would gain a profit of Rs 7016