An amount of ₹1000 was lent out at 5% per annum by tilak ram at compond intrest and by lala ram with simple intrest who earns greater?
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1
Answer:
1050
Step-by-step explanation:
Principal = Rs 1000
time = 1 year
Rate = 5 %
The amount at the end of the first year is equal to the principal at the end of the second year.
A=P(1+
100
R
)
T
⇒A=1000(1+
100
5
)
1
⇒A=
100
1000×105
⇒A=Rs1050
Thus, Principal for second year = Rs1050
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