Question

13. Victor had lent 4,32,000 to Samuel at the rate of 8.5% and later received the amount of
5,60,520 from him. What would have been the loan period?​

Answer 1

Answer:

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Step-by-step explanation:

Amount - 4,32,000

Amount received - 5,60,520

intrest amount = amount - amount received

so, 5,60,520 - 4,32,000

amount of intrest =1,28,520

lets find month = 8.5/100×432000×x/12 = 128520

so the period of time is 6 months

Answer 2

Answer:

Time = 3.5 years

Step-by-step explanation:

At Simple Interest

Amount = Principle + Interest

From this we find Interest

Interest = 560520 - 432000

I = 128520

S.I. = P×R×T/100

128520 = 420000 × 8.5 × Time /100

$128520 = 432000 \times 8.5 \times time \: \div 100 \\ 128520 \times 100 \div432000 \times 8.5 = time \\ 12852000 \div 3672000 = time \\ 3.5 = time$

Time = 3.5 years