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    Question

    Aman borrowed Rs. 56000 at 11% p.a. simple interest for

    2 years. He immediately invested the entire amount at 14% p.a. simple interest for the same duration. Find the amount he earned per year.
    A Rs.1610 Correct Answer Incorrect Answer
    B Rs.1205 Correct Answer Incorrect Answer
    C Rs.1680 Correct Answer Incorrect Answer
    D Rs.2454 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ,

    Interest to be paid by Aman at 11% p.a. after 2 years = (56000 × 11 × 2)/100 = Rs. 12320

    Interest earned by Aman at 14% p.a. after 2 years = (56000 × 14 × 2)/100 = Rs. 15680

    Therefore, amount gained by him in 2 years = 15680 – 12320 = Rs. 3360

    Therefore, amount gained by Aman per year = 3360/2 = Rs. 1680

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