Question

24. A person borrowed * 25000 from State Bank of India at 8% p.a. compound interest, interest compounded
yearly for 2 years. He lent the money to his friend at the same rate interest compounded half yearly
.
Find his gain in the transaction.​

Answer 1

Answer:

first let's find what he has to pay to the bank

he will have to pay the principal amount along with the interest to the bank

principal amount 25000 ,

25000×8/100= 2000(for first year)

(25000+2000)×8/100= 2160 (for 2nd year)

total = 25000+2000+2160= 29160 rupees

now let's find out what his friend will have to pay to him (here we have considered the same amount of time as it has not been specified in the question)

principal amount 25000

25000×8/100= 2000(for first half year)

(25000+2000)×8/100= 2160 (for 2nd half year)

27000+2160×8/100=2333 approx (after rounding off)(for 3rd half year)

29160+2333×8/100=2519 approx(after rounding off) (interest for 4th year)

total 25000+2000+2160+2333+2519=34012 ruppes approx.

now let's find again

34012+29160= 4852 rupees approx.

pls note that don't cpy it doen without checking there may be a calculation mistake so keep that in mind and MARK AS BRAINLIEST