Question

Ravi borrowed ₹25000 from Shishir at 15% per annum simple interest. On the same day, he lent it to Rakesh at the same rate but compounded annually and paid the amount to Shishir after two years. What does he gain in this transaction
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Answer 1

Hey Mate,

Principal= 25000

Rate = 15% p.a

Time 2 yrs

Simple interest = 25000× 15 × 2 ÷ 100 = Rs 7, 500

Rajesh

P = 2500

rate = 15 % pa

Time 2 yrs

CI = 33062.50

Gain = 33062.5 subtracted by 7500 = 25562.50

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