Question

Mewa lal borrowed Rs. 20000 from his friend Rooplal at 18% per annum simple interest. He lent it to Rampal at the same rate but compounded annually. Find his gain after 2 years.

Answer 1

Answer:

❆Mewa lal gain = Rs (7848 – 7200) = Rs 648

Step-by-step explanation:

Solution⤵️

Given details are,

Principal (p) = Rs 20000

Rate (r) = 18 %

Time = 2 years

By using the formula,

Interest amount Mewa lal has to pay,

By using the formula,

Simple interest = P×T×R/100

= (20000×18×2)/100 = 7200

Interest amount Rampal has to pay to Mewa lal,

By using the formula⤵️

A = P (1 + R/100) n

= 20000 (1 + 18/100)²

= 20000 (118/100)²

= Rs 27848 – 20000 (principal amount)

= Rs 7848

∴ Mewa lal gain = Rs (7848 – 7200) = Rs 648

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Answer 2

Answer:

❆Mewa lal borrowed Rs. 20000 from his friend Rooplal at 18% per annum simple interest. He lent it to Rampal at the same rate but compounded annually. Find his gain after 2 years.

done

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