A person borrows Rs.20000 at the rate of 6 percent per annum

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52

M: +2.00/-0.50

A person borrows Rs.20000 at the rate of 6 percent per annum on simple interest for 3 years. He immediately lends it to another person at the rate of 8.5 percent per annum on simple interest for 3 years. What is the value of gain per year?

[SSC CHSL 21st March 2023 Shift-4 With Answers]

A

Rs.1500

B

Rs.500

C

Rs.800

D

Rs.200

EXPLANATION

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