Question

Gokul took a certain amount as a loan from a bank at the rate of 8% simple interest per annum and gave the same amount to Alok as a loan at the rate of 12% simple interest per annum. If at the end of 12 years, he made a profit of Rs. 480 in the deal, what was the original amount?

• A. Rs.1000
• B. Rs. 2000
• C. Rs.3000
• D. Rs.4000

Answer 1

Answer:

A. Rs.1000