Sanjay borrowed 12,800 at the rate of 6% per annum at simple interest. On the same day, he lent
it to Rajesh at the same rate but compounded annually. What does Sanjay gain at the end of 2 years?
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Answer:
Step-by-step explanation:
Given:
P=12,800
R=
4
25
%
T=2years
SI=
100
PRT
=12800×
4
25
×2×
100
1
=1600
Amount =12800+1600=14400
CI for 2 years =P(1+
100
R
)
T
=12800(1+
400
25
)
2
=12800×
256
289
=14450
Profit =14450−14400=50Rs
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