Abdul takes a loan of Rs 12000 at a rate of 10% compounded annually to start a business. Up to 5
months he is unable to start any business so he lent out this amount to Salim at the rate of 2018
compound annually. Salim give him this amount after 15 month. Abdul deposited back immediately the
amount of bank. Find loss or gain of Abdul.
Answers
Solution :-
→ Principal = Rs.12000
→ Rate = 10% per annum .
→ Time = 5 + 15 = 20 months = 20/12 = 5/3 = 1(2/3) years .
so,
→ Amount to be paid by Abdul = 12000[1 + (10/100)]¹ * [1 + (2*10/3*100)] = 12000 * (11/10) * (16/15) = Rs.14080 .
and,
→ Principal = Rs.12000
→ Rate = 20% per annum
→ Time = 15 months = 15/12 = 5/4 = 1(1/4) years .
so,
→ Amount to be paid by Salim = 12000[1 + (20/100)]¹ * [1 + (1*20/4*100)] = 12000 * (6/5) * (21/20) = Rs.15120 .
therefore,
→ Gain of Abdul = 15120 - 14080 = Rs.1040 (Ans.)
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Answer:
Gain of Rs. 1040.
Step-by-step explanation:
Given: Abdul takes a loan of Rs 12000 at a rate of 10% & then lent out this amount for 15 months.
To find the gain or loss.
Principal amount = Rs.12000, rate = 10% per annum,
Total time = 5+15 = 20 months = 20/12 = 5/3 years .
Amount to be paid by Abdul = 12000[1 + (10/100)]¹ * [1 + (2*10/3*100)]
= 12000 * (11/10) * (16/15)
= Rs.14080 .
Now when the amount lent to Salim:
Principal = Rs.12000, rate = 20% per annum & time = 15 months = 15/12 = 5/4 years .
Amount to be paid by Salim = 12000[1 + (20/100)]¹ * [1 + (1*20/4*100)]
= 12000 * (6/5) * (21/20)
= Rs.15120 .
Therefore, gain of Abdul = 15120 - 14080
= Rs.1040
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