Rakesh lent out Rs. 8000 for 5 years at 15% per annum and borrowed Rupees 6000 for 3 years at 12% per annum. how much did he gain or loss???
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Rakesh lent out Rs. 8000 for 5 years at 15% per annum and borrowed Rupees 6000 for 3 years at 12%
Answer:
He gained rs. 5840
Step-by-step explanation:
Amount of sum borrowed = 8160
Amount of sum lent =14000
Since,amount lent>amount borrowed
Thus,there is a gain
Now gain =14000-8160=5840
Just use formula
[tex]prt \div 100 \: to \: \: find \: intrest \\ and \: then \: use \: intrest+ principle = amount[/tex]