Question

A person borrowed rupees 5500 from a money lender at 25 per 24 percent per annum he lent this money to his friend the rate of 36 percent per annum after 2 years he collected the amount from his friend and paid back the amount due to the money lender the amount heaters and is

Answer 1

Given : A person borrowed rupees 5500 from a money lender at 24 % and lent to friend at 36 % for 2 Years

To find   :   Amount Earned

Solution:

Amount Borrowed  P = 5500

Rate of interest = 24 %  

Time = 2 Years

Considering Simple interest

Interest  Amount = 5500 * 24  * 2 /100   = Rs 2640

Amount Lent = 5500

Rate of interest = 36 %  

Time = 2 Years

Considering Simple interest

Interest  Amount = 5500 * 36  * 2 /100   = Rs 3960

Amount Earned = 3960 - 2640  =  Rs 1320

Rs 1320 is Earned

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