New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    A person borrowed Rs. 50,000 at a rate of 12% per annum

    for one year. He then lent it out as two separate loans to D and E. He lent Rs. 20,000 to D at 20% per annum for a year and the remainder to E at 18% per annum for the same period. Calculate the total profit or loss from the transaction after a year.
    A Rs.3400 Correct Answer Incorrect Answer
    B Rs.3300 Correct Answer Incorrect Answer
    C Rs.2400 Correct Answer Incorrect Answer
    D Rs.3440 Correct Answer Incorrect Answer
    E none of these Correct Answer Incorrect Answer

    Solution

    ATQ, For the borrowed amount For the amount lent to D: For the amount lent to E:- Total return from D and E: 24000 + 35400 = 59400 Net profit: Profit = 59400 − 56000 = 3400 Therefore, the person makes a profit of Rs.3400

    Practice Next

    Relevant for Exams: