Multiple Choice Questions on A person borrows Rs 3000 for 2 years at 5 p a simple interest He immediately lends it to another per........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

A person borrows Rs 3000 for 2 years at 5 p a simple interest He immediately lends it to another per...........

Quantitative Aptitude ( CCS) Simple Interest
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    A person borrows Rs. 3000 for 2 years at 5% p.a. simple interest. He immediately lends it to another person at 6 ¼ %p.a for 2 years. Find his gain in the transaction per year.

    Rs42

    Incorrect Answer

    Rs39.25

    Incorrect Answer

    Rs35

    Incorrect Answer

    Rs37.5

    Correct Answer
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    Explanation:

    Gain in 2 yrs =[(3000*25/4*2/100)-(3000*2*5/100)] 375-300=75.
    Gain in 1yr=75/2=37.5

    Hence, option 4 is the correct answer.

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