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Question

Govind borrow ₹18000 at 10% simple interest he immediately invests the money borrowed at 10% compound interest compounded half yearly how much money does govind gain in one year?


Solution

P = 18000 , R = 10%
SI after one year = 18000*10/100 = Rs. 1800
Amount = 19800
When it's invested on CI, Rate for 6 months = 10/2 = 5%
CI for first 6 months = 18000 * 5/100 = Rs. 900
Amount for 6 months = 18900
CI for next 6 months = 18900 * 5/100 = Rs. 945
Total amount = 19845

His gain = 19845-19800
= Rs. 45


Mathematics

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