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A person borrows Rs. 5000 at 5% rate of interest per annum and immediately lent it at 5.5%. After two years he collected the amount and settled his loan. What is the amount gained by him this transaction?
  • a)
    Rs. 25
  • b)
    Rs. 50
  • c)
    Rs. 100
  • d)
    Rs. 200
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
A person borrows Rs. 5000 at 5% rate of interest per annum and immedia...
The extra amount he gains is due the difference in the interest rates.
Difference in the interest rate = 5.5 - 5 = 0.5%
Interest he gained = 5000 × 0.5/100 × 2 = Rs. 50 [∵ Interest = Principal × Rate/100 × Time]
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A person borrows Rs. 5000 at 5% rate of interest per annum and immediately lent it at 5.5%. After two years he collected the amount and settled his loan. What is the amount gained by him this transaction?a)Rs. 25b)Rs. 50c)Rs. 100d)Rs. 200Correct answer is option 'B'. Can you explain this answer?
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A person borrows Rs. 5000 at 5% rate of interest per annum and immediately lent it at 5.5%. After two years he collected the amount and settled his loan. What is the amount gained by him this transaction?a)Rs. 25b)Rs. 50c)Rs. 100d)Rs. 200Correct answer is option 'B'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about A person borrows Rs. 5000 at 5% rate of interest per annum and immediately lent it at 5.5%. After two years he collected the amount and settled his loan. What is the amount gained by him this transaction?a)Rs. 25b)Rs. 50c)Rs. 100d)Rs. 200Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A person borrows Rs. 5000 at 5% rate of interest per annum and immediately lent it at 5.5%. After two years he collected the amount and settled his loan. What is the amount gained by him this transaction?a)Rs. 25b)Rs. 50c)Rs. 100d)Rs. 200Correct answer is option 'B'. Can you explain this answer?.
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