Rohit lent out Rs.14700 on simple interest and the same sum on compound interest for 2 years at 162 %per annum. Find the difference of the interests received by Rohit after 2 years
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Rohit borrowed =62,500, T=2yrs, R=10%
S.D=
100
p+r
=
100
62,500×2×10
⇒12,500
Rohit lent =62,500, T=2yrs, R=10%.(Compounded)
Amount =62,500(1+
100
10
)
2
[∵A=P(1+
100
1
)
n
]
=62,500(1.1)
2
=75625
C.D=75625−62500=13125
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