Question

Tina borrowed Rs. 10,000 from a bank at the rate of 15% per year. She lent Rs. 3,000 to a friend at the rate of 20% per year and Rs. 7,000 to another friend at the rate of 25% per year. How much profit would she earn in 3 years?

Answer 1

Answer:

The simple interest to the sum Rs. 10,000 for 2 years at a rate of interest 15% per annum is

100

10,000×2×15

=3,000.

So the interest will be Rs. 3,000 at the end of 2 years.

And the amount will be 10,000+3,000=13.000 at the end of 2 years.