Mr Crazyarala took a loan of Rs. 10,000 at the rate of `12%` p.a. simp – InterviewSolution

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1.	Mr Crazyarala took a loan of Rs. 10,000 at the rate of `12%` p.a. simple interest and lent this money to is neighbour at `18%` simple interest for 2 years. If he cleared the loan in two years, then find his profit in this transaction.
Answer» Correct Answer - Rs. 1200 P=Rs. 10000 Rate`=12%`pa T=2 years `I_(1)=(PTR)/(100)` `=(10000xx2xx12)/(100)=Rs. 2400 ` Amount lent `P=Rs.10000,"Rate"=18%`p.a. T=2years `I_(2)=(PTR)/(100)=(10000xx2xx18)/(100)=Rs. 3600` Profit`=I_(2)-I_(1)=Rs.(3600-2400)=Rs. 1200`

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