Manpreet borrowed ruppes 20000 from her friend at 18% per annum simple interest . She lent it to gurpreet at the same rate but compounded annually . Find her gain after 2 years
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SI=PNR/100=2oooox2x18 /loo
= 7200
CI = A-P
A =P (1+r/loo)n=20000 (I +18/loo) 2
20000x118x118/loox loo
= 27848
Cl=27848-20000=7848
GAIN=7848-7200 = Rs. 648. Ans
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