Question

Rajeev borrowed a certain sum of money for two years from a company at 10% simple interest he lent this money to a friend at the same period of time at C. I. then he earned a profit of RS 10 in interest . Find the sum.y​

Answer 1

Step-by-step explanation:

$Let amit borrow Rs x;</p><p></p><p>x[(1+1008)2−1]−100x×8×2=16</p><p></p><p>⇒0.1664x−0.16x=16</p><p></p><p>⇒x=0.006416 Rs.2500</p><p></p><p></p><p>$

Answer 2

Answer:

1000

Step-by-step explanation:

since rate of interest=10% per annum

time=2 years

Let borrowed money be p

earning = C I - S I

10=[p( 1+10/100)^2-p] - p×10×2/100

=10 p[121/100-1-1/5]

= 10×100= (121-100-20)p

p=1000

therefore sum of money =1000

Hope this helps you