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Anjali borrowed ₹ 22,500 for 2 years at 6% simple interest per annum and on the same day she lent this amount to Ashok with compound interest at the same rate of interest and for the same time. How much loss or profit will she make?
1. 73 Profit
2. 73 Loss
3. 81 Loss
4. 81 Profit

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Best answer
Correct Answer - Option 4 : 81 Profit

Given:

Principal = Rs. 22,500

Rate = 6%

Time = 2 years

Formula used:

SI = (P × R × T)100

Amount = P [(1 + r/100)n 

CI = Amount – Principal

Calculation:

SI = (22,500 × 6 × 2)/100

⇒ 2700%

Now,

According to the question

Amount = 22,500 [(1 + 6/100)2]

⇒ (22,500 × 53/50 × 53/50)

⇒ (9 × 53 × 53)

⇒ Rs. 25,281

CI = Amount – Principal

⇒ (25,281 – 22,500)

⇒ 2781

Now,

Profit = (2781 – 2700)

⇒ 81

∴ The required profit is 81

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