Poornima took a loan of Rs 100000 from bank at the rate of 10 % compound interest immediately she lent the whole amount to her friend at 10% compounded half yearly how much profit will she make at the end of 2 years
Answers
Answered by
2
Answer:
Rs 20,000/_
Step-by-step explanation:
Poornima took a loan of=Rs 1,00,000
Rate of interest per year=10℅ = (1,00,000×10)÷100= 10,000
Taking compounded from friend per half year(6 months)=10% =10,000
2 years compounded= 10,000 ×4= 40,000
bank's interest for 2 years= 20,000
poornima profit=40,000-20,000=Rs 20,000
Answered by
0
Answer:
profit= Rs 550.625
Step-by-step explanation:
Given,
P = Rs 100000
t = 2years
r= 10%
we know,
Profit = P(1+r/(2*100))^2t - P(1+r/100)^t
= 100000(1+10/2000^4 - 100000(1+10/100)^2
= 121550.625-121000
= Rs 550.625 is the profit
(subtract half-yearly value and yearly value)
You can also solve them separately and then subtract.
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