Question

two money lender A and B lent Rajesh equal amount with rate of interest 6% per annum. But A charges compound ​

Answer 1

Answer:

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Explanation:

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Answer 2

Complete question: Two Money lenders A and B lent Rajesh equal amounts with a rate of interest of 6 % per annum. But A charges compound interest and B charges simple interest to return the amount. Find the ratio of the amounts Rajesh needs to pay after two years to B and A.

Answer:

The ratio of the amounts Rajesh needs to pay after two years to B and A is 1:9.36 (approximately).

Given,

Two Money lenders A and B lent Rajesh equal amounts with a rate of interest of 6 % per annum. But A charges compound interest and B charges simple interest to return the amount.

To Find,

The ratio of amounts Rajesh needs to pay after two years to B and A.

Solution,

We can find the ratio of the amounts Rajesh needs to pay after two years to B and A by the following method.

We know that the formula of compound interest is $A = P(1 + \frac{r}{100})^{t}$, where A = final amount, P = initial principal balance, r = interest rate, and t = total time period.

Also, the formula of simple interest is $A=\frac{Prt}{100}$ , where A = final amount, P = initial principal balance, r = interest rate, and t = total time period.

Let, the initial principal balance of Rajesh given to A and B is x.

So, the amount Rajesh needs to pay to A is $A_{1} = x(1 + \frac{6}{100})^{2} =x*(\frac{106}{100}) ^{2}$

$=1.1236x$ .

Also, the amount Rajesh needs to pay to B is $A_{2}= \frac{x*6*2}{100} =\frac{12x}{100}=0.12x$.

So, the ratio of the amounts Rajesh needs to pay after two years to B and A is  $\frac{0.12x}{1.1236x} = \frac{1}{9.36}$ (Approximately).

Hence, the ratio of the amounts Rajesh needs to pay after two years to B and A is 1:9.36 (approximately).

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