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Question

 Govind borrows Rs 18,000 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%    t=1
S.I=PTR100=(18000×10×1)100=1800
C.I=P((1+Rn100)ntP
=18000(1+102(100))2×118000
=18000[(1+10200)21]
=18000((2120)21)=18000(441400400)
=18000(41400)
=Rs.845
Money gained = Rs.1845 - Rs. 1800
=  Rs. 45

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