Question
A took a loan of Rs.5410 at simple interest of 20% p.a.
and invested the same money in a scheme at simple interest of 30% p.a. Find the profit earned by A at the end of 2 years.Solution
Interest paid by A = (5410 × 2 × 20)/100 = Rs.2164 Interest received by A from the scheme = (5410 × 2 × 30)/100 = Rs.3246 Profit = 3246 – 2164 = Rs.1082
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