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 ammount to shishir after two years.what does he gain in this transation ?
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Answer:
Principal (P) = 25000
Rate interest (R) = 15%
Time (t) = 2 years
Find:-
Money gained by Ravi during a transaction.
Solution:-
Interest that Ravi has to pay :
Interest that Ravi receive :
Interest that Ravi receive from Shishir = Amount - Principal
= 33062.5 - 25000
= 8062.5
Gain = 8062.5 - 7500
= 562.5
•°• Ravi gains Rs. 562.5 in this transaction
Step-by-step explanation:
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