Vikram borrowed rupees 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 5/2 years
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Answer:
₹ 25410
Step-by-step explanation:
principal =₹20000
rate=10%
time=5/2=2.5 years
by si method
principal of first year=₹20000
principal of second year=₹22000
principal of half year=₹24200
Gain =₹25410-₹20000
=₹5410
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