Question

Mr. Sharma lends ₹24000 at 13% p.a simple interest and an equal sum at 12% p.a compound interest. Find the total interest earned by Mr. Sharma in 2 years.

Answer 1

Principal=Rs24000

rate of interest=13%p.a

No. of years=2 years

simple interest=PNR/100

=24000×13×2/100

=6240

so simple interest=Rs6240

Principal=Rs24000

Rate of interest=12%p.a

No. of year=2

Amount=p[1+R/100]ⁿ

=24000×112/100×112/100

=30105.6

compound interest=Amount-Principal

=30105.6-24000

=6105.6

total interest earned=6240+6105.6

=12345.6

Answer 2

rs. 12345.6

Step-by-step explanation:

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