Question

Rakesh lent out rupees 8000 for 5 years at 8% per annum and borrowed rupees 6000 for 3 year at 12% per annum how much did he gain or loss
answer is = gain rs 3840​

Answer 1

Answer:

Interest on money lent by Rakesh

= 8000*5*8/100

= 3200

Interest on money borrowed by Rakesh

=6000*3*12

=2160

Profit = 3200-2160=1040

Answer 2

Answer:

THE ANSWER IS GIVEN IN THE ABOVE ATTACHMENT