Multiple Choice Questions on A person borrowed Rs 5 000 at 5 rate of interest per annum and immediately lent it at 5 5 After two ........... for CDS Exam Preparation

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Multiple Choice Questions

A person borrowed Rs 5 000 at 5 rate of interest per annum and immediately lent it at 5 5 After two ...........

Quantitative Aptitude (CDS) Simple Interest
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    A person borrowed Rs. 5,000 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 in this transaction?

    Rs. 25

    Incorrect Answer

    Rs. 50

    Correct Answer

    Rs. 100

    Incorrect Answer

    Rs. 200

    Incorrect Answer
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    Explanation:

    Total gain by the person = {5000*2 * 5.5 / 100} – {5000*2*5/100}

    = {5000*2/100} * {5.5-5} = 5000*2 *5/1000 = Rs. 50

    By: Munesh Kumari
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