Mathematics
Vikram borrowed ₹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 years.
Related Questions
A sum of ₹9600 is invested for 3 years at 10% per annum at compound interest.
(i) What is the sum due at the end of the first year?
(ii) What is the sum due at the end of the second year?
(iii) Find the compound interest earned in 2 years.
(iv) Find the difference between the answers in (ii) and (i) and find the interest on this sum for one year.
(v) Hence, write down the compound interest for the third year.
The simple interest on a certain sum of money for 2 years at 10% per annum is ₹1600. Find the amount due and the compound interest on this sum of money at the same rate after 3 years, interest being reckoned annually.
A man borrows ₹6000 at 5% compound interest. If he repays ₹1200 at the end of each year, find the amount outstanding at the beginning of the third year.
Mr. Raina deposits ₹ 1,600 in a bank every year in the beginning of the year, at 5% per annum compound interest. Calculate the amount due to him at the end of 2 years. Also find his gain in two years.