Amit borrowed Rs. 16000 at 1712% per annum simple interest on the same – InterviewSolution

1.	Amit borrowed Rs. 16000 at 1712% per annum simple interest on the same day, he lent it to Ashu at the same rate but compounded annually. What does he gain at the end of 2 years?
Answer» Amit borrowed Rs. 16000 at $17 \frac{1}{2} %$ per annum simple interest on the same day, he lent it to Ashu at the same rate but compounded annually. What does he gain at the end of 2 years?

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