Question

A man borrows Rs.1000 at 10% simple interest for 3 years. He immediately lends this money out at compound interest at the same rate for the same time. What is his gain at the end of 3 years ?​

Answer 1

AnswEr :

• Principal = Rs.1000
• Rate = 10% p.a.
• Time = 3 Yrs.

$\rightarrow \mathsf{Gain = CI - SI}$

$\rightarrow \mathsf{Gain = \bigg[P \bigg(1 + \dfrac{r}{100} \bigg)^{t} - 1 \bigg] - \bigg[ \dfrac{PRT}{100}\bigg] }$

$\rightarrow \mathsf{Gain = \bigg[1000 \times \bigg(1 + \dfrac{10}{100} \bigg)^{3} - 1 \bigg] - \bigg[\dfrac{1000 \times 10 \times 3}{100} }\bigg]$

$\rightarrow \mathsf{Gain = \bigg[1000 \times \bigg( \dfrac{11}{10} \bigg)^{3} - 1 \bigg] - \bigg[\dfrac{10 \cancel{00} \times 10 \times 3}{1 \cancel{00}} }\bigg]$

$\rightarrow \mathsf{Gain = \bigg[1000 \times \bigg( \dfrac{1331}{1000} - 1 \bigg) \bigg] - \bigg[10 \times 10 \times 3 }\bigg]$

$\rightarrow \mathsf{Gain = \bigg[ \cancel{1000} \times \dfrac{331} {\cancel{1000}} \bigg] - \bigg[10 \times 10 \times 3 }\bigg]$

$\rightarrow \mathsf{Gain =331 - 300}$

$\rightarrow \boxed{ \mathsf{Gain =Rs.\:31}}$

⠀

$\therefore$ Gain received by the Man is Rs.31

Answer 2

Answer:

Ans = 31 Rs.

Step-by-step explanation:

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