Question

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 gain percent after 2 years
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Answer 1

Answer:

Gain = 1.16 %

Step-by-step explanation:

$SI = \frac{P*T*R}{100} = \frac{20,000*12*2}{100} = 4800$

Harpreet has to return to her Friend = 20,000 + 4800 = 24,800

$CI = P(1+\frac{R}{100} )^n - P$

⇒ $20,000(1 + \frac{12}{100} )^2 - 20,000$

⇒ $20,000 * \frac{112}{100} * \frac{112}{100} - 20,000$

⇒ 25,088

Harpreet will receive from Alam = 25,088

Gain  = 25,088 - 24,800

Gain = 288

Gain % = ( 288/24800 ) × 100

Gain % = 1.16%

Answer 2

Answer:

1% Thanks

Step-by-step explanation:

Hope it helps