Question

⏩⏩50 points question⏪⏪

Harpreet borrowed rupees 20000 from her friend at 12% per annum simple interest. She lent it to Alam at the same rate but compounded annually. Find again after 2 years.
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Answer 1

Answer:

Given:

Principal (P) = 20000

rate of interest (r) = 12%

time period (t) = 2

SI = P× r×t

100

=20000× 12×2

100

= 200×12×2

=200× 24

= 4800

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Answer 2

Question :-

→ Given above ↑

Answer :-

→ 288

To Find :-

Difference of Compound interest and simple interest for 2 years .

Formula used :-

$\star \: \: \: \boxed{ \sf{SI\: = \frac{P \: \times N \times R}{100} }} \\ \\ \star \: \: \boxed{\sf{CI = P { \bigg(1 + \frac{R}{100} \bigg) }^{N} }}$

Step - by - step explanation :-

Given that ,

• Principal (P) = ₹20,000

• Rate ( R) = 12%

• time (N) = 2 years

Solution :-

Firstly calculate Simple interest (SI)

$\implies \sf{ SI = \frac{ \red{20000 } \green{\times 2 }\times 12}{ \orange{100}} } \\ \\ \implies \boxed{\sf{ \orange{SI \: =} \green{ 4800}} }\\ \\ \sf{ \blue{ total \: }\: \red{ amount} \:} \\ = 20000 + 4800 = 24800$

Now calculate compound interest for 2 years

$\implies \sf{CI = \pink{20000} { \bigg( \red{1 + \frac{12}{100}} \bigg) }^{2} } \\ \\ \implies \sf{CI \: = \green{ 20000 \times } \frac{28}{25} \orange{\times \frac{28}{25} }} \\ \\ \implies \boxed{ \sf{ \red{CI }= \pink{25088}}} \\ \\ \text{ \pink{ therefore }\: \orange{ diffrence} \: is} \\ \: \\ \implies \: \orange{25088 }- \green{ 24800} \\ \\ \implies \: 288$

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