Mala borrows 50000 rupees from Harsha at a simple interest of 8% per annum Zealand's the same amount to ready at the same rate of interest but compounded annually calculate Malas gain or loss after 2 years
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Mr Sharma borrowed Rs. 20000
rate = 18% (simple)
time = 2 years
\bf I = \frac{Ptr}{100} = \frac{20000*2*18}{100} I=
100
Ptr
=
100
20000∗2∗18
=Rs 7
20000∗2∗18
=Rs.7200
Total amount he will return to Mr Sharma = 20000+7200 = Rs. 27200
Mr. Sharma lent Rs. 20000
rate = 18% (compound)
time = 2 years
Let the total amount he will get at the end of years = A
[tex] \begin{gathered}A=P(1+r) ^{t} = 20000(1+0.18) ^{2}=20000*1.18 ^{2} \\ \\ A=20000*1.3924=Rs 27848\end{gathered} [tex]
A=20000∗1.3924=Rs.27848
Gain = amount he will get - amount he will give
= Rs. 27848 - Rs. 27200
= Rs. 648
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