a man borrowerd 10000 at 15% per annum simple interest and immediately lent the whole sum at 15% per annum compound interest. what does he earn at the end of 5 years?
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amount payable after 5 years
10000*15*5/100=17500
amount receivable after 5 years
10000*(1.15)^5=20113.57188
gain=20113.57188-17500=2613.57188
10000*15*5/100=17500
amount receivable after 5 years
10000*(1.15)^5=20113.57188
gain=20113.57188-17500=2613.57188
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