Math, asked by jessie32, 10 months ago

hey guys plz Anwar to my question..Atul borrowed $24000 at the rate of17 1/2% per annum on simple interest. on the same day,he lent it to Amit at the same rate but compounded annually. What does he gain at the end of 2 years??​

Answers

Answered by sameer321987
2

Answer:

Principal = 16000, Rate = 15/2%, Time = 2years.

abe borrowed the money at simple interest. so, he has to pay after two year = S.I. = P ×R × T / 100. =₹16000 ×15 ×2 /100 ×2. = ₹160 × 15 .

= ₹ 2,400.

Amount = P + SI. = ₹16000 + 2400 = ₹ 18400.

And after two year You have to pay him by compounded annually =

Amount = P ( 1 + R/ 100 ) ^T

= ₹ 16000 ( 1 +7.5/100 ) ^2

= ₹16000 ×43/40 × 43/40

= ₹ 10 × 1849 = ₹ 18490.

Then , From ₹ 18490 he have to pay ₹ 18400.

So, he have left ₹ 90.

so, he has gain of ₹ 90. after 2 years. Ans

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