Vikram borrowed Rs. 20000 from a bank at 10% per annum simple interest. He lent it to his friend Venkat at the same rate but compounded annually. Find his gain after 2 1/2 years.
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Heya Mate ✌️
. Simple Interest on ₹20000 at the rate of 10% p.a. after 2.5 years is 20000*2.5*10/100=₹5000
Compound Interest on ₹20000at the rate of 10% p.a after 2.5 years.
C.I=20000(1+10/100)^2.5-20000
=25381.17-20000
=₹5381.17
His gain=5381.17-5000
=₹381.17
I know this is not clear but hope it's helpful to you ...
Hey Sis. will be a good friends??
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