Mr Sharma borrowed rupees 24000 at 13% p.a simple interest and an equal equal sum at 12% p.a compound interest. Find the total interest earned by Mr sharma in 2 years
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Answer:
24000×2×13/100= 6240
24000(1+12/100)²-24000=6105.6
total= 6240+6105.6=12345.6
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