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    Question

    A man borrows Rs. 60,000 from the bank at 9% per annum.

    He lends Rs. 25,000 at 16% per annum and the rest at 14% per annum to two different clients for a year. Calculate his net gain or loss after one year.
    A Rs.3400 Correct Answer Incorrect Answer
    B Rs.3500 Correct Answer Incorrect Answer
    C Rs.2200 Correct Answer Incorrect Answer
    D Rs.3440 Correct Answer Incorrect Answer

    Solution

    ATQ, For the borrowed amount For the amount lent at 16%: For the amount lent at 14%: Total Return :- 29000 + 39900 = 68900 Net profit:  Profit = 68900 − 65400 = 3500 The man makes a profit of Rs. 3500.

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