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Sam lent out some money on simple interest at rate of interest of 25% per annum for a year. He gave 3/4th of money to A at rate of interest of 30% for 9 months and on remaining principle he gets Rs. 4000 is simple interest at rate of interest of 20% for a year. What is profit/loss he will have in this whole transaction after a year?

Sam lent out some money on simple interest at rate of interest of 25% per annum for a year. He gave 3/4th of money to A at rate of interest of 30% for 9 months and on remaining principle he gets Rs. 4000 is simple interest at rate of interest of 20% for a year. What is profit/loss he will have in this whole transaction after a year? Correct Answer Rs. 2500

Let P = Principal, R = rate of interest and N = time period

Simple interest = P × R × T/100

Let principal amount be Rs. P

Given,

4000 = /100

P = 80000

⇒ R = 25% and T = 1

Simple interest = (80000 × 25 × 1)/100

⇒ 20000

Total amount of money Sam have to return = 80000 + 20000 = 100000

Given,

For A,

P = (80000)3/4 = 60000, R = 30%, T = 9/12 = 3/4 years

Simple interest =

= /100

= 13500

Total money A will return to Sam = 60000 + 13500 = 73500

For D,

Total money D will return to Sam = 20000 + 4000 = 24000

Total amount of money Sam will have after a year =

= 73500 + 24000

= 97500

∴ Sam will have loss of = 100000 – 97500 = Rs. 2500

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