Abhay borrowed rs.16000 at 15/2% % per annum simple interest. on the same day he lent it to gurmeet at the same rate but compounded annualy. what does he gain at end of 2 years
Answers
Answered by
164
Abhay's simple interest for 2 years
=PRT/100
= ₹ 2,400
His friend's interest (payable to Abhay)
= P(1+r/100)² - P
= ₹ 2,490
His profit
= ₹ (2,490-2,400)
= ₹ 90
=PRT/100
= ₹ 2,400
His friend's interest (payable to Abhay)
= P(1+r/100)² - P
= ₹ 2,490
His profit
= ₹ (2,490-2,400)
= ₹ 90
Answered by
31
Answer:
Money borrowed by Abhay =S.I.=PRT/100
=16000*15*2/100*2
=2400
We know that amount =P+SI
=16000+2400
=18400
Money borrowed by Gurmeet=CI=P*(1+R/100)^n
=16000*(1+15/10*2)^2
=16000*(215/200)^2
=10*43*43
=18490
Difference=CI-SI
=18490-18400
=90. Answer
Hope it will help you.
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