Asked by Karan
A person borrows ₹5000 for 2 years at 4% p.a. simple interest. He lends to it to another person at 25/4%p.a. for 2 years. Find his gain in the transaction per year.
Answers
Answered by
Henry
I = Po*r*t = 5000*0.04*2 = $400.
(25/4)% = 6.25%.
I = 5000*0.0625*2 = $625.
Gain = (625-400)/2yrs. = $112.50
per year.
(25/4)% = 6.25%.
I = 5000*0.0625*2 = $625.
Gain = (625-400)/2yrs. = $112.50
per year.
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.