Smriti borrowed ₹ 6500 from a bank at 8 % p.a for 2 years. She Lent this amount to Akash at the rate of 9% per annum for 2 years. How much will smriti gain in this transaction ?
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Answer:
Smriti's Amount = ₹130
Step-by-step explanation:
In Smriti case:
P = ₹ 6500
R = 8%
T = 2 Years
SI = P×R×T/100
SI = 6500×8×2/100 = 1040
A = ₹7540
In Akash Case:
P = ₹6500
R = 9%
T = 2 Years
SI = 6500×9×2/100 = 1170
A = ₹7670
Gain in Smriti's Transactions =
Akash's A - Smriti's A
₹7670 - ₹7540 = ₹130
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