Question

Mr.rajendra borrowed borrowed Rs.24000 from his bank at the rate of 5% p.a. at C.I. for 3 years . He gave the money immediately to his friend, Mr.saran, at the rate of 10% p.a. at the simple interest for 3 years . How much did he gain or lose?​

Answer 1

Answer:

P= Rs. 24000, Time = 1

2

1

years =3 half years, r=10% p.a. =5% per half year

∴A=24000(1+

100

5

)

3

=24000×(

20

21

)

3

=24000×

8000

9261

= Rs. 27783

∴ C.I. = Rs. 27783− Rs. 24000= Rs. 3783

∴ C.I. (x) lies between Rs. 3000 and Rs. 4000.