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CBSE Class 7 Answered

A person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at p.a. for 2 years. Find his gain in the transaction per year.
Asked by Topperlearning User | 10 Oct, 2014, 03:32: PM
answered-by-expert Expert Answer

SI =

For borrowing, P = Rs 5000, R = 4% p.a.  and T = 2 years

Thus, SI (borrowing) = 

For lending, P = Rs 5000, R =  p.a.  and T = 2 years

Thus, SI (lending) = 
Hence, Gain = Rs (625 - 400) = Rs 225 for 2 years

Therefore, gain per year =

Answered by | 10 Oct, 2014, 05:32: PM

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