Question

Arun took ₹70,000 loan from a bank. He lended the money to his friend. After 10 months, the friend repaid ₹90,000 to Arun and Arun repaid ₹78,000 to the bank. How much profit does Arun make in this process?

Answer 1

Loan amount to Arun from the bank = ₹70,000
Amount repaid to the bank by Arun = ₹78,000

Amount repaid by Arun's friend = ₹90,000

Amount remaining with Arun = ₹90,000 - ₹78,000
= ₹12,000
So, profit = ₹12,000