Question

Akanksha borrows Rs. 65000 at 10% per annum simple interest for 3
years and lends it at 10% per annum compounded interest for 3
years. Find her gain after three years.​

Answer 1

Answer:

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SI on ₹ 65000 at the rate of 10% for 3 yr

= (65000 x 10 x 3)/100 = ₹ 19500

CI on ₹ 65000 at the rate of 10% for 3 yr

= 65000(1 + 10/100)2 - 65000

= 65000(11 x 11 x 11 - 10 x 10 x 10)/1000 = ₹ 21515

∴ Required gain = 21515 - 19500 = ₹ 2015