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A person borrows rs 5000 for 2 years at 4% p.a simple interest. He immediately lends it to another person at 6 1/4% p.a for 2 years. Find his gain in the transaction per year
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A person borrows rs 5000 for 2 years at 4% p.a simple interest. He immediately lends it to another person at 6 1/4% p.a for 2 years. Find his gain in the transaction per year
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Apr 1, 2020
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A person borrows rs 5000 for 2 years at 4% p.a simple interest. He immediately lends it to another person at 6 1/4% p.a for 2 years. Find his gain in the transaction per year
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Answer:
Rs1525
Explanation:
61/4%=15.25%
15.25%×5000×2 years=Rs 1525
Hassan Shahbazi
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Apr 8, 2020
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Hassan Shahbazi
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