Question

Mr. Sharma borrowed Rs 24,000 at 13% per annum simple interest and an equal sum at 12% per annum compound interest . Find the total interest earned by Mr. Sharma in two years?

Answer 1

P=24000,R=13,T=2
SI=(P×R×T)/100
    =(24000×13×2)/100=6240

COMPOUND INTEREST  R=12%
A=P(1+R/100)²
   =24000(1+12/100)²
=24000×(56/50)²
=24000×3136/2500
=48×3136/5
=30105.6
CI=A-P=30105.6-24000=6105.6

CI+SI=6105.6+6240=12345.6

Answer 2

The question should be:
Mr. Sharma borrowed Rs 24,000 at 13% per annum simple interest and an equal sum at 12% per annum compound interest . Find the total interest given by Mr.Sharma in two years?

Solution:
For SI, P=Rs.24000 , R=13  % p.a. , T=2 years.
⇒SI=24000*13*2/100
⇒SI=Rs.6240.
For CI , P=Rs.24000 , R=12% , T=2 years.
⇒A=P(1+R/100)²
⇒A=24000(1+12/100)²
⇒A=24000(28/25)²
⇒A=24000*28/25*28/25
⇒A=Rs.30105.6.
⇒CI=A-P=30105.6-24000=Rs.6105.6.
⇒Total interest given by him=6240+6105.6
=Rs.12345.6
Ans:The total interest paid by him is 12345.6.