Question

Ashok took a loan of 1 lakh from a bank for 2 years at an interest of 12% per annum compounded annually he invested the money in a company which gave him a simple interest at 18 % per annum for the same time how much did he gain by this

Answer 1

Answer:

89439

Step-by-step explanation:

compound interest = 100000(1+0.12)^2-1= 125439

C.I= 125439

Simple interest = 100000×0.18×2= 36000

Total gain = C.I - S.I = 125439-36000= 89439