29. Vikas borrowed Rs.25000 from the bank at 20% per annum compounded annually for 3 years. And he lends the same amount to his friend Arun for 20% per annum compounded half yearly for 3 years. How much did Vikas earn in this transaction?
Pls answer I have exam tomorrow
Answers
Answer:rs 12500
Step-by-step explanation:
vikas borrowed 25000 from the bank at 20% per annum by anually for 3 years
arun borowed money at the rate 20% in half of 3 year
so vikas borowwed 25000 in 3 years
so it means that arun bought half of 25000 because he borrowed money in the half s 25000/2=12500 answer
Compounded Annually
Principal = Rs25000
Rate = 20% pa
Time = 3 yrs n = 3
Amount = P(1+R/100)^n
=Rs25000(1+20/100)³
=Rs25000(100+20/100)³
=Rs25000(120/100)³
=Rs25000×60/50×60/50×60/50
=Rs60×60×60/5
=Rs216000/5
=Rs43200
Compounded Half yearly
Principal=Rs25000
Rate=20%P.A. 20/2=10
Time=3yrs n=3×2=6
Amount=P(1+R/100)^n
=Rs25000(1+10/100)^6
=Rs25000(100+10/100)^6
=Rs25000(110/100)^6
=Rs25000×11/10×11/10×11/10×11/10×11/10×11/10
=Rs25×1331×1331/1000
=Rs44289025/1000
=Rs44289.025
Now will be subtract
Rs44289.025-Rs43200
=Rs1089.025
He will have profit of Rs 1089.025.
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