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A person borrows 3000 at 5% pa, simple interest. He immediately lends it to another person at 7% pa, simple interest. Find his gain y the transaction per year |
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Answer» Answer: = RS. 5000 x 25 x 2 - 5000 x 4 x 2 4 100 100 = Rs. (625 - 400) = Rs. 225. Gain in 1 year = Rs. 225 = Rs. 112.50 2 |
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