harpreet borrowed 20000 from her friend at 18% per annum simple interest she lent it to alam at the same rate but compounded annually find her gain after 2 year
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Answer:
• Gain earned by Harpreet :
⇢ Difference = Principal × [ Rate / 100 ]²
⇢ Difference = 20000 × [ 18 / 100 ]²
⇢ Difference = 20000 × 324 / 10000
⇢ Difference = 2 × 324
⇢ Difference = Rs. 648
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