Rishi borrowed Rs. 20000 from his friend Pallabi at 18% per annum simple interest.
He investedsame amount to IFO at the same rate but compounded annually. Find
his gain after 2 years.
Answers
Answered by
1
Answer:
'₹7848
Step-by-step explanation:
A=p(1+r/100)^n
A=p(1+18/100)^2
A=20000+(118/100)^2
A=118×118×2
A=₹27847
CI=A-P
CI=27848-20000
CI=₹7848
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