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17 Jul 2019, 04:07
Kudos
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B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
55%
(hard)
Question Stats:
80% (02:54) correct
20%
(01:02)
wrong
based on 5
sessions
History
Date
Time
Result
Not Attempted Yet
Ajay takes a loan of Rs. 30,000 from a bank for 8 years at 6.5% rate of simple interest. He then loans out Rs. 20,000 for 8 years at 7.5% rate of simple interest. He could loan out the balance only at 5.5% for 8 years. In the entire transaction, did Ajay make or lose money and how much?
1. Gain 400
2. Gain 800
3. No gain, No loss
4. Loss 400
5. Loss 800
1. Gain 400
2. Gain 800
3. No gain, No loss
4. Loss 400
5. Loss 800
17 Jul 2019, 04:43
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The money Ajay will have to pay for interest rates after 8 years is
8(30000*6.5/100)=8*1950
The money Ajay will take from interest rates after 8 years:
1)8(20000*7.5/100)+8(10000*5.5/100)= 8*(1500+550)=8*2050
8*2050-8*1950=800 (gain 800 Rs)
The answer choice is B.
Posted from my mobile device
8(30000*6.5/100)=8*1950
The money Ajay will take from interest rates after 8 years:
1)8(20000*7.5/100)+8(10000*5.5/100)= 8*(1500+550)=8*2050
8*2050-8*1950=800 (gain 800 Rs)
The answer choice is B.
Posted from my mobile device
