Himanshu borrowed a sum of Rs. 4000 from the bank at 12% per annum on simple interest for 2 years. If Himanshu lends the same sum to his friends at 15% per annum on compound interest for the same year, then find how much gain Himanshu got in the whole transaction.?

Rs. 220
Rs. 330
Rs. 440
Rs. 550

LohaHridoy

4 views

2025-01-04 04:42

1 Answers

AhmedNazir

Option 2 : Rs. 330

Given

Principal = Rs. 4000

Time = 2 years

Formula Used

Simple Interest = (principal × rate × interest)/100

Amount = Principal(1 + R/100)^t

Amount = Principal + interest

Calculation

From 1st condition,

Simple Interest = (Principal × rate × interest)/100

⇒ Simple interest = (4000 × 12 × 2)/100

⇒ Simple Interest = 40 × 24 = Rs. 960

from 2nd condition

⇒ Amount = 4000(1 + 15/100)²

⇒ Amount = 4000 × (23/20) × (23/20)

⇒ Amount = Rs. 5290

Interest from 2nd condition = 5290 – 4000 = Rs. 1290

Himanshu gained = Rs. 1290 – Rs. 960 = Rs. 330

∴ Himanshu's gain in whole transaction is Rs. 330

4 views Answered 2022-09-04 04:29

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