Harpreet borrowed Rs.20000 from her friend at 12% per annum simple interest. She lent it to Alam at the same rate but compounded annually. Find her gain after 2 years.
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Step-by-step explanation:
Answer:
d = Rs 288
Step-by-step explanation:
/* We know that,
If on a certain sum "P", difference between compound interest and simple interest is 'd' and rate percentage is R% for 2 years, then the relation is
d=P
Where d = (CI - SI) for 2 years */
Here,
Principal (P) = Rs 20000,
R = 12%,
d=20000 (1)
= 20000 x 100 12 X 12 100
$$\begin{gathered}= 2\times 144\\=Rs 288\end{Gathered}$$
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