Question

Honey borrowed a certain sum of money from Anu for 2 years at simple interest. Honey then lent this
sum to Arushi at the same rate for 2 years at compound interest. At the end of 2 years she received
₹120 as compound interest but paid ₹ 100 as simple interest. Find the sum and rate of interest.
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Answer 1

Answer:

Honey borrowed a certain sum of money from Anu for 2 years at simple interest. Honey then lent this

sum to Arushi at the same rate for 2 years at compound interest. At the end of 2 years she received

₹120 as compound interest but paid ₹ 100 as simple interest. Find the sum and rate of interest.

Step-by-step explanation:

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Answer 2

Step-by-step explanation:

Complete step by step answer:

Complete step by step answer:S. I=P×r×t100 , where P is Principal Amount, r is rate of interest and t is time for which money is borrowed. Now, as in question it is given that Honey then lent this sum to Arushi at the same rate for 2 years at compound interest and after the end of two years she received Rs.