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 rate and for the same period of time atC.I. Then he earned a profit of rs 10 in interest . Find the sum.

Answer 1

Answer:

Step-by-step explanation:

P=x

R=10% pa

T= 2 years

Amt(SI) =P(1+RT/100)

=x(1+20/100) = (120/100)x

Amt(CI) = P(1+R/100)T

=x(1+ 10/100)2 = x(110/100)2 = x(11/10)2 = (121/100)x

Diff Amt(CI) and Amt(SI)  = Rs 10

(121/100)x - (120/100)x = 10

x/100  = 10

x = 1000

P = Rs 1000