Question

Mahesh borrowed Rs 16000 at 7 1/2 percent per annum simple interest. On the same day, he lent it to Gagan at the same rate but compounded annually. What does he gain at the end of 2 years?​

Answer 1

Answer:

$\frac{16000 \times 7.5 \times 2}{100} = 160 \times 7.5 \times 2 \\ = 2400$

So he will get 1200 per year

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