6. Manoj took a loan of 24,000 from a financer at 15% per annum simple interest. He lent it to mukesh at the same rate of compound interest. find his gain after 3 years .
please give me answer fast.
please
Answers
Total by simple interest is -
Total = P (100 + r×t) / 100
Total = 24000 (1 + 3×15/100)
Total = 24000 × 1.45
Total = Rs 34800
Total by compound interest is -
Total = P (1 + r)^t
Total = 24000 (1 + 15/100)^3
Total = 24000 × 1.520875
Total = Rs 36501
Total gain after 3 years is 36501-34800 = Rs 1701.
Answer:
Dear Student,
◆ Answer -
Rs 1701
● Explanation -
Total by simple interest is -
Total = P (100 + r×t) / 100
Total = 24000 (1 + 3×15/100)
Total = 24000 × 1.45
Total = Rs 34800
Total by compound interest is -
Total = P (1 + r)^t
Total = 24000 (1 + 15/100)^3
Total = 24000 × 1.520875
Total = Rs 36501
Total gain after 3 years is 36501-34800 = Rs 1701.
Thanks dear. Hope this helps you...
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