Q. 13

Amit borrow

Answer :

Given,


Principal = Rs.406


Rate = 12% per annum = semi annually


Time = 18 months =


Hence,


Amount = Principal = Rs.16000


Rate = 17 % =


Time = 2 years


Hence ,


Interest paid by Amit on this sum =


Interest that Amit get from Ashu = Compound interest =




Hence,


Gain of Amit = Rs.(6090 – 5600 ) = Rs. 490

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