Question

12. Rajeev borrowed a certain sum of money for two
years from a company at 10% simple interest.
He lent this money to a friend at the same rate
and for the same period of time at C.I. Then he
earned a profit of 10 in interest. Find the sum.​

Answer 1

Answer:

Let amit borrow Rs x;

x[(1+

100

8

)

2

−1]−

100

x×8×2

=16

⇒0.1664x−0.16x=16

⇒x=

0.0064

16

Rs.2500