A person borrows ₹75,000 for 3 years at 5% simple interest. He lends it to B at 7% for 3 years. What is gain (in ₹)?
Given,
A person borrow ₹75000 for 3 years at 5 %
Simple Interest = $$\frac{P\times\ R\times\ T}{100}$$
= $$\frac{75000\times\ 5\times\ 3}{100}=\ ₹11250$$
According to question ,
Interest earned by A from B
= $$\frac{75000\times\ 7\times\ 3}{100}=\ ₹15750$$
Required Gain = ₹15750 - ₹11250 = ₹4500
Hence, Option b is correct.
Create a FREE account and get:
