Question

1. If the discount on Rs. 1700.40 P at 4% be Rs. 140.40 P when is the sum due?

Answer 1

Answer:

$\huge\bold\red{Answer}$

Step-by-step explanation:

Given, rate r=5%, n=2 years, compound interest = Rs. 1100

Compound interest = Amount− Principal

Therefore, 1100=P(1+

100

5

)

2

−P

⇒1100=P(1.05)

2

−P

⇒1100=1.1025P−P

⇒P=

0.05

1100

⇒P= Rs. 22000

Simple interest =

100

PRT

=

100

22000×5×2

Simple interest = Rs. 2200