Question 61

P lends Rs. 15,000 to Q for a simple interest 8% per annum and Q lends the same amount to R for a simple interest 11% per annum. Then the gain of Q in 3 years, in rupees, is

Solution

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Simple Interest for Rs. 15000 at 3% per annum for 3 years = $$\frac{15000\times3\times3}{100}$$ = Rs.1350

$$\therefore\ $$Gain of Q in 3 years = Rs.1350

Hence, the correct answer is Option C

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