Question

Mewalal borrowed 20000rupees from Rooplal at18 percent per annum simple interest. He lent it to Rampql at the same rate but cumpounded anually. Find his gain after 2 years.

Answer 1

First we will calculate the S.I. = 20000*18*2/100 = Rs 7200.
So, Mewalal has to pay Rs 27200 to Roopalal.

But, Amount when compounded = 20000*(1+18/100)^2 = Rs 27848, which he will get from Rampal.
Thus , tge profit will be Rs 648 i.e. Rs(27848-27200)

Answer 2

Answer:

Rs 648

Step-by-step explanation:

First we will calculate the S.I. = 20000*18*2/100 = Rs 7200.

But, Amount when compounded = 20000*(1+18/100)^2 = Rs 27848, which he will get from Rampal.

C.I.=27848-20000=Rs 7848

therefore, profit=7848-7200=Rs 648

Thus , the profit will be Rs 648