Question

13. Ram and Shyam are small farmers. Ram has taken a credit of Rs.20000 at an interest rate of 1.5% per month from a trader while Shyam has taken credit at 8% per annum
from bank on the same amount. Who is better off?
A. Ram is better because he has to do no paperwork.
B. Shyam is better because his interest payment is less.
C. Ram is better because he has not paid any collateral .
D. Both Ram and Shyam are equal so no one is better off.​

Answer 1

Answer:

Amount received by Shyam (from the total profit) for carrying on the concern = 150×12 =1800

Amount received by Ram (from Shyam) as interest =30000×10/100 = 3000

Let total profit be=2x+1800

Then, Ram and Shyam gets x

as share of the profit.

Ram's total income in the year

=x+3000

B's total income in the year

=x+1800-3000

=x−1200

2(x−1200)=x+3000

⇒2x−2400=x+3000

⇒x=5400

Total yearly profit = 2x+1800

=12,600

Explanation:

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Answer 2

Answer:

The yearly profit is 1200 rupees.