Jinesh borrows Rs.8000 for 3 years at 5% p.a. simple interest. He immediately lends it to Vineeth at 6¼% p.a for 3 years. Find his gain in the transaction.
 a) 225
 b) 112.5
 c) 250
 d) 300


300.

Solution
Simple interest at 5% for 3 years ,SI = (8000 x 5 x 3)/100 = 1200
Simple interest at 6¼% for 3 years, SI =(8000 x 6¼ x 3)/100 = 1500
Gain of Jinesh in the transaction = 1500 - 1200 = Rs. 300
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