Question

Govind borrows rupees 18000 at 10% simple interest he immediately invest the money borrowed at 10% compound interest compounded half yearly how much money does Govind gain in one year . this sum we have to solve without using formula​

Answer 1

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Given:-

Principal = 18000rs

Rate = 10%

Time = 1 year

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• Simple Interest → P×R×T/100

18000×10×1/100

=> Rs.1800

• Compounded halfyearly

Principal = Rs.18000

Time = 2 half years

Rate = 5%

• Amount → P[1+r/100]^t

=> 18000[1+5/100]²

=> 18000[21/20]²

=> 18000×21×21/400

=> 45×441 = Rs.19845

Compound Interest → 19845 - 18000 = Rs.1845

Money he gained → 1845 - 1800 = Rs.45

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