Question

Ahmad took a loan of * 6000 from a finance company at 20% per annum simple interest for 2 years.He lent it to Rahim at the same rate of interest compounded annually. How much will Ahmed gain after 2
years.
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Answer 1

Step-by-step explanation:

this is your question -

Ahmad took a loan of 6000 from a finance company at 20% per annum simple interest. He lent it to Rahim at the same rate of interest compounded annually. How much will Ahmed gain after 2years.

given that-

principle- 6000

rate- 20%

time-2 years

simple interest = principle×rate×time/100

=6000×20×2/100= 2400 rs

amount of simple interest = principle + interest

=6000+2400= 8400 rs

amount of c.I = p (1+ r/100)^t

= 6000( 1+20/100)^2

= 6000 ( 6/5)^2

= 6000 ×36/25

= 8,640 rs

gain after 2 years = 8640-8400

= 240rs

I hope this help you...