LIVE Course for free

Rated by 1 million+ students
Get app now
0 votes
22 views
in Aptitude by (45.3k points)
closed by
Amar borrowed Rs. 2000 at 30% per annum simple interest and then immediately lent in at 30% per annum compound interest. Find his gain at the end of two year?
1. Rs.170
2. Rs.180
3. Rs.200
4. Rs.150

1 Answer

0 votes
by (111k points)
selected by
 
Best answer
Correct Answer - Option 2 : Rs.180

Given:

Amar borrowed 2000 Rs. at 30% per annum simple interest and then immediately lent in at 30% per annum compound interest

Formula used:

SI = \(\dfrac{P \times R \times T}{100}\)

Amount = P(1 + \(\dfrac{R}{100}\))T

P = principal

R = rate of interest

T = time period

Calculation:

SI on 2000 at 30% per annum = \(\dfrac{2000 \times 30 \times 2}{100}\) = 1200

CI on 2000 at 30% per annum for 2 years = Amount - Principal

⇒ CI = 2000(1 + \(\dfrac{30}{100}\))2 - 2000

⇒ CI = 2000[(169/100) - 1]

⇒ CI = 2000(69/100)

⇒ CI = 1380

CI - SI = 1380 - 1200 = 180

∴ His gain = Rs. 180

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...