A person borrows Rs 75000 for 9 years at 5.5% p.a. simple interest. He immediately lends it to another person at 9.25% p.a. for 9 years. Find his gain in the transaction per year.
75 000 * (9.25-5.5)/100= 2 812.5 Rs
A person borrows Rs 29000 each from two lenders for 7 years at 6.75% per annum simple interest. He immediately lends both the sum to another person at 11.25% per annum for 7 years. Find his gain in the transaction per year.
If difference between simple interest and compound interest of certain sum of money for 3 years at 7.5% per annum is Rs 138.375 then what is the sum?
