A person borrows 9000 for 9 years at 3% p.a. simple interest. He immediately lends it to another person at 7 % p.a. for 9 years. Find his gain in the transaction per year.
Choose one:
A) 380
B) 360
C) 340
D) 300
E) 180
Gain in 9 years   = [(9000Ã—9Ã—7/100)âˆ’(9000Ã—9Ã—3/100)]   = (5670 â€“ 2430) = 3240   âˆ´ Gain in 1 year = (3240/9)= 
<gadget id="calculator">(3240/9)</gadget>
<output>360</output>
360   Answer 360
<result>B</result>
A person borrows 9000 for 9 years at 3% p.a. simple interest. He immediately lends it to another person at 7 % p.a. for 9 years. Find his gain in the transaction per year.