Question
David takes a loan of Rs. 20000 from his friend Alex, which he is to return at 10% p.a. simple interest after 5 years. Alex takes a loan from George, which he returns after 2 years at 10% p.a. compound interest. If Alex returns Rs. 24200 to George, then what is the difference between the amount borrowed by Alex from George and the amount returned by David to Alex?
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