Vijay borrowed ₹15000 at 10% per annum and lent the same amount to someone else at 12% per annum, both for 2 years.
How much does he gain from this deal?

Question

Vijay borrowed ₹15000 at 10% per annum and lent the same amount to someone else at 12% per annum, both for 2 years. How much does he gain from this deal?

Accepted Answer

600. Interest he pays: (15000×10×2)/100 = ₹3000. Interest he earns: (15000×12×2)/100 = ₹3600. Gain = 3600 − 3000 = ₹600.

Vijay borrowed ₹15000 at 10% per annum and lent the same amount to someone else at 12% per annum, both for 2 years.
How much does he gain from this deal?

Step-by-Step Solution

Master this chapter in 30 minutes a day.

More Class 7 Simple Interest practice

Vijay borrowed ₹15000 at 10% per annum and lent the same amount to someone else at 12% per annum, both for 2 years.How much does he gain from this deal?

Step-by-Step Solution

Master this chapter in 30 minutes a day.

More Class 7 Simple Interest practice

Vijay borrowed ₹15000 at 10% per annum and lent the same amount to someone else at 12% per annum, both for 2 years.
How much does he gain from this deal?