Mahesh borrowed a certain sum for two years at simple interest from Bhim. Mahesh lent this sum to Vishnu at the same rate for two years compound interest. At the end of two years, Mahesh received * 410 as compound interest but paid 400 as simple interest. Find the sum and rate of interest.
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Mahesh lent his sum to Vishnu at the same rate for two years compound interest. Let us assume the amount is P and the rate is r. So, according to the formula Mahesh will pay for the simple interest A1=P×2×r100=400 and he will get for the compound interest A2=P(1+r100)2−P=410.
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