Ruchi borrowed $18000 from her friend at the raye of 12% per annum at simple interest.she lent it further to another friend aarti at the rate but compounded annually.find the profit that ruchi earns after 2 year
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SI for Ruchi = AxRxT / 100 = = 18000 × 12 × 2 / 100 = = 4320 Amount for Aarti = 18000 × ( 1 + 12 / 100 ) 2 Cl for Aarti = 22579.2-18000 = 4579.2 Ruchi's profit = 4579.2-4320 = = 259.2 = 18000 × 112 / 100 × 112 / 100 = 22579.2
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