Question

a man borrowed a sum of rs 12000 from his friend at the rate of 8 per anummfor 3 years and invested this amount on the samd day for 3 years at 12 per cent per annum , find his profit

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Answer 1

Given : A man borrowed a sum of rs 12000 from his friend at the rate of 8%per annum for 3 years and invested this amount on same day for 3 years at 12% per annum

To find :  his profit​

Solution:

P = 12000

R = 8 %

T = 3 Years

SI = P * R * T /100

=> SI  = 12000 * 8 * 3 /100  =   Rs 2880

Interest to be paid = Rs 2880

R = 12 %

SI  = 12000 * 12 * 3 /100  =   Rs 4320

Interest to be received = Rs 4320

profit​  = interest received - Interest paid

= 4320 - 2880

=1440

profit​ =  Rs 1440

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