🎓 Academic Problem solving using 4-step process

[jmatchu]

Jo Mari borrowed P20,000 from his friend Arnold at 12% per annum simple interest. He lent it to Andy at the same rate but compounded annually. Find his gain after 2 years. Show your complete solution

 

[AMDG]

Pa wait, lods. Try natin.

-Edited-
Via Bartleby.
jmatchu

 

[Frankie Arinoli]

20,000 x 0.12=2,400
2,400 x 2yrs= 4,800
He gained profit 4,800 for the whole 2 yrs of lending...