Question

Harpreet borrowed 20000 from her friend at 12% per annum simple interest.She lend it to alam at the same rate but compounded annually find her gain after 2 years

Answer 1

Answer:

Gain Rs. 288

Step-by-step explanation:

It is given that,

Harpreet borrowed 20000 from her friend at 12% per annum simple interest.She lend it to alam at the same rate but compounded annually

To find amount on simple interest

I = (PNR)/100

P= 20000

R = 12%

N = 2 years

I = (PNR)/100 = (20000 x 2 x12) 100 = 4800

Total amount = 20000 + 4800 =24800

To find amount on compound interest

Amount A = P[1 + R/100]^N

A = 2000[1 + 12/100]^2 = 25088

The gain = 25088 - 24800 = 288

Answer 2

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Given,

P = ₹ 20000

R = 12% p.a.

T = 2 years

Now,

A = P × ( 1 + R/100)^t

= ₹ 20000 × ( 1 + 12/100)²

= ₹ 20000 × (112/100)²

= ₹ 20000 × 112/100 × 112/100

= ₹ 25088

CI = A - P

= ₹ (25088 - 20000)

= ₹ 5088

SI = P × R × T / 100

= ₹ (20000 × 12 × 2 / 100)

= ₹ (200 × 12 × 2)

= ₹ 4800

•°• Her gain after 2 years

= ₹ (5088 - 4800)

= ₹ 288

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