Question

Neema borrowed Rs. 24000 from a commercial bank for 3 years
at the rate of 12.5% p.a. in simple interest. She lent the money to
Sangita in compound interest at the same rate, how much does
she will have profit after 3 years? Find it. ​

Answer 1

Answer:1,171.876

Step-by-step explanation:

S.I.= P×R×T/100

24000×3×12.5/100

S.I.= 9000

Now, she lent the money to sangita

A = P(1 + R/100)^N

Here, P is the principal amount, R stands for rate of interest, N is for a number of years,

24000(1+12.5/100)^3

24000(729/512)

A= 34171.875

Now, she had to pay to bank is 24000+9000=33000

And Sangita give her 34171.875

34171.875‐ 33000= 1171.875 Answer