Sanjay borrowed Rs128000 at the rate of 25/4% 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:
Rs 50
Step-by-step explanation:
ANSWER
Given:
P=12,800
R=425%
T=2years
SI=100PRT=12800×425×2×1001=1600
Amount =12800+1600=14400
CI for 2 years =P(1+100R)T
=12800(1+40025)2
=12800×256289
=14450
Profit =14450−14400=50Rs
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