Question
A took a loan of Rs.4880 at simple interest of 25% p.a.
and invested the same money in a scheme at simple interest of 35% p.a. Find the profit earned by A at the end of 3 years.Solution
Interest paid by A = (4880 × 3 × 25)/100 = Rs.3660 Interest received by A from the scheme = (4880 × 3 × 35)/100 = Rs.5124 Profit = 5124 – 3660 = Rs.1464
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