Hermish borrows Rs 25000 at 5% simple interest for two years. He immediately lends this money at compound interest at the same rate for the same time. What is the additional amount he gets at the end of two years correct to the nearest rupee?

Additional amount he gets = Rs 63

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Additional amount he gets = Rs 78

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Additional amount he gets = Rs 59

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Additional amount he gets = Rs 79

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Solution

The correct option is A
Additional amount he gets = Rs 63

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Hermish borrows Rs 25000 at 5% simple interest for two years. He immediately lends this money at compound interest at the same rate for the same time. What is the additional amount he gets at the end of two years correct to the nearest rupee?

The correct option is A Additional amount he gets = Rs 63

The correct option is A
Additional amount he gets = Rs 63