To lend money to someone
You give your hard-earned money to someone in exchange for some profit. When you lend to someone and someone borrows from you. Then an agreement is signed that you own that money for some time. Lending decisions should be made based on individual circumstances and ethical standards.
Some questions which only the lender can answer: –
- Can you trust the person borrowing?
- Will the borrower misuse your money?
- How much did you pay attention to how it could affect your business and ethical conduct as well?
- How much credibility and transparency do you have?
- Can you meet your needs without lending this amount of money?
- Can you trust what’s important?
- Are you completely sure that the person to whom you have lent money will return the money on time?
- Is your relationship strong enough to lend or borrow?
- You cannot ask for money back until the validity period expires. Did you notice that also?
- Have you ever considered what relation you are giving?
- Whenever you have lent money to someone, have you looked at your own financial situation?
- How much can you afford, and how much risk can you take without jeopardizing your financial security?
- Before lending, consider what dependent needs you have.
Now let us see how much you can earn when you lend money to someone. Look at a table – If you lend someone ₹ 10 a month! Now let’s see how much interest will be earned on how much money – in a month. lend money to someone.
| principal amount (₹-) | Interest earned (₹-) | Total amount (₹-) |
| 10 | 1 | 11 |
| 100 | 10 | 110 |
| 300 | 30 | 330 |
| 500 | 50 | 550 |
| 1,000 | 100 | 1,100 |
| 5,000 | 500 | 5,500 |
| 10,000 | 1,000 | 11,000 |
| 50,000 | 5,000 | 55,000 |
| 1,00,000 | 10,000 | 1,10,000 |
| 2,00,000 | 20,000 | 2,20,000 |
| 3,00,000 | 30,000 | 3,30,000 |
| 4,00,000 | 40,000 | 4,40,000 |
| 5,00,000 | 50,000 | 5,50,000 |
| 10,00,000 | 1,00,000 | 11,00,000 |
| principal amount (₹-) | Interest earned (₹-) | Total amount (₹-) |
| 10 | 12 | 22 |
| 100 | 120 | 220 |
| 300 | 360 | 660 |
| 500 | 600 | 1,100 |
| 1,000 | 1,200 | 2,200 |
| 5,000 | 6,000 | 11,000 |
| 10,000 | 12,000 | 22,000 |
| 50,000 | 60,000 | 1,10,000 |
| 1,00,000 | 1,20,000 | 2,20,000 |
| 2,00,000 | 2,40,000 | 4,40,000 |
| 3,00,000 | 3,60,000 | 6,60,000 |
| 4,00,000 | 4,80,000 | 8,80,000 |
| 5,00,000 | 6,00,000 | 11,00,000 |
| 10,00,000 | 12,00,000 | 22,00,000 |
Hopefully, instead of getting attracted to this total amount, you should also keep in mind some of the above-mentioned points. Read more if you are interested. How to earn a good profit by selling apples rs 100. lend money to someone.
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