Solutions
Formula used:
SI = P * R * T / 100SI = P * R * T / 100
A = P(1 + R/100)^T
Where:
P = Principal amount
R = Rate of interest
T = Time period
Calculation:
Simple Interest from Shashank:
Using the given values Profit made by Vishal:
⇒ SI = 2500 * 4 * 2 / 100 SI = Rs. 200
S o Vishal owes Shashank Rs. 2500 (principal) + Rs. 200 (simple interest) = Rs. 2700.
Compound Interest from Abhishek: is compounded
⇒ A = 2500 * (1 + 8/100)2 A = 2500 * (1 + 0.08)2
⇒ A = 2500 * 1.082 A = 2500 * 1.1664 A ≈ Rs. 2,916
∴ Vishal receives Rs. 2,916 from Abhishek.
Profit from the Transaction: Profit = Amount received from Abhishek - Amount owed to Shashank
Profit = Rs. 2916 - Rs. 2700 Profit = Rs. 216
The profit made by Vishal in the transaction is Rs. 216.