Amit borrowed a sum of Rs. 25,000 on simple interest. Bhola borrowed the same amount on compound interest(interest compounded yearly). At the end of 2 years, Bhola had to pay Rs. 160 more interest than Amit. The rate of interest charged per annum is:
A sum of Rs 15000 is lent at compound interest (compounded annually) at an interest rate of 20% per annum. If the interest is compounded half yearly, then how much more interest (in Rs) will be obtained in one year?
Rs 10000 is kept at compound interest at an interest rate of 18% per annum (compounding annually). If the compounding of interest is done half yearly, then how much more interest (in Rs) will be obtained?