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8th Class Mental Ability Algebraic Expressions Question Bank Algebra

  • question_answer
    Thomas needs some money for the construction work of his house and he does not have enough money for this work. He decides to lend the money from the money lender. He borrows Rs 2750 at the rate of 12% and lend the same amount to his friend at the rate of 18% per annum as he decides to postpone his work for some time because his friend needs the amount urgently. His friend pays him back the amount after two years and he returns the due amount to the money lender. The amount of money he earns from this transaction is:

    A) Rs. 250               

    B)                    Rs. 330

    C)                    Rs. 450               

    D)        Rs. 340

    E) None of these

    Correct Answer: B

    Solution :

    Explanation Option [b] is correct. Interest on the amount he borrows for two years = \[\frac{2750\times 12\times 2}{100}=Rs\,\,660\] Interest on the amount he lends to his friend for two years = \[\frac{2750\times 18\times 2}{100}=Rs\,\,990\] The difference in the interest \[=990-660=Rs.\text{ }330\]


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