person borrows Rs. 5000 for 2 years at 4% p.a. simple interest. He immediately lends it to another person at 614614 p.a for 2 years. Find his gain in the transaction per year?
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Answer:
Rs.112.50
Explanation:
Gain in 2 years
=Rs.[(5000×254×2100)−(5000×4×2100)]
=Rs.(625−400)=Rs.225
∴Gain in 1 year=Rs.(2252)
=Rs.112.50
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