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please give answer of this question if you give correct i will donate you much more than 5

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a sum of money is invested at simple interest at the rate of 10% for one year after 1 year the amount (principal and interest) obtained is reinvested at the same rate of simple interest for another year what is the difference between the amount obtained at the end of second year to the amount obtained at the end of second year for the same sum of money invested at a compound interest rate of 10% for 2 years which is compounded annually

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Adalyn 23 hours 2021-09-11T06:15:19+00:00 1 Answer 0 views 0

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    2021-09-11T06:16:40+00:00

    Answer:

    Simple Interest is the rate at which we lend or borrow money. In the following section, we will define the important terms and formulae that will help us solve and understand the questions on the simple interest. We will define the concept of Simple interest and use these formulae and definitions to solve questions that we expect will come from this section. Let us begin with the definitions!

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    Quantitative Aptitude > Simple Interest and Compound Interest > Simple Interest

    Simple.

    When a person lends money to a borrower, the borrower usually has to pay an extra amount of money to the lender. This extra money is what we call the interest. We can express this interest in terms of the amount that the borrower takes initially. If the interest on a sum borrowed for a certain period is reckoned uniformly, then it is called simple interest or the flat rate. Before starting the formula for the simple interest, let us first state some terms that we will use in the formula.

    Principal: The money borrowed or lent out for a certain period is called the principal or the sum.

    Interest: Interest is the extra money that the borrower pays for using the lender’s money.

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