Riya took a loan of rs24000 from a bank at 7% per annum and lent it to ravita for 2years at 10% per annum how much did Riya gain
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Step-by-step explanation:
Riya's principal = 24000
Rate = 7%
Period = 2 years
Riya's interest = 24000 × 7 × 2/100
= 3360
Ravita's principal = 24000
Rate = 10%
Period = 2 years
Ravita's interest = 24000×10×2/100
= 4800
Riya's gain = 4800 - 3360
= 1440
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