Question

mahesh lent out rs. 8000 for 5 years at 15% per annum, and borrowed rs. 6000 for 3 years at 12% per annum. how much did he gain or loss?

Answer 1

He gained Rs. 3840 in this transaction.
Explanation:
Mahesh lent 8000 for 5 yrs at 15 %
Total interest in % is: 15 x 5 = 75 %
Interest amount=8000 x 75 %=Rs. 6000
Borrowed 6000 for 3 yrs at 12 %
Total interest in % is: 12 x 3 = 36 %
Interest amount=6000 x 36 %=Rs. 2160

Here is a gain in the transaction.
Profit = 6000 - 2160=Rs. 3840

Answer 2

Mahesh lent 8000 for 5 yrs at 15 %

Total interest in % is: 15 x 5 = 75 %

Interest amount=8000 x 75 %=Rs. 6000

Borrowed 6000 for 3 yrs at 12 %

Total interest in % is: 12 x 3 = 36 %

Interest amount=6000 x 36 %=Rs. 2160

Here is a gain in the transaction.

Profit = 6000 - 2160=Rs. 3840

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