Question

3. How much would 736,525 amount to if it was invested at 72% p.a. from 15 October 2007

3to 9 March 2008?
of money lent at 6.5% na for 1 year and 11 months is 897,​

Answer 1

Answer:

₹37,645.10.

Corrected Question

How much would 36,525 amount to if it was invested at 7 2/3% p.a. from 15 October 2007 to 9 March 2008?

Step by step explanation

Principal = ₹36,525.

Rate = 7 2/3% p.a = 23/3%. p.a.

Time = 15Oct. 2007 to 9March 2008.

Calculating Time

No. of days in October = 31 - 15 = 16days.

No. of days in November = 30days.

No. of days in December = 31days.

No. of days in January = 31days.

No. of days in February = 29days (Because 2008 is a leap year).

No. of days in March = 9days.

∴ Total no. of days = 16 + 30 + 31 + 31 + 29 + 9

= 146days.

Now, converting days into year.

To convert days in to year we have to divide the given days by 365.

Time in year = Time in Days/365

Time in year = 146/365 = 2/5 years.

∴ Time = 2/5years.

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We can calculate amount by two methods.

1st Method

Principal = ₹36,525.

Rate = 23/3% p.a.

Time = 2/5 years.

By Simple Interest formula,

I = P × R × T/100

=> I = (36525 × 23/3 × 2/5) / 100

=> I = (7305 × 23/3 × 2) / 100

=> I = (2435 × 23 × 2) / 100

=> I = 112010/100

=> I = 1120.10

Simple Interest = ₹1,120.10.

Now,

Amount = Principal + Simple Interest

=> Amount = 36525 + 1120.10

=> Amount = ₹37,645.10.

2nd Method

Principal = ₹36,525.

Rate = 23/3% p.a.

Time = 2/5 years.

By Amount formula,

A = P(1+ R×T/100)

=> A = 36525{1+ (23/3×2/5)/(100)}

=> A = 36525{1+ 46/1500}

=> A = 36525{1+ 23/750

=> A = 36525{773/750}

=> A = 48.70 × 773

=> A = 37645.10.

Amount = ₹37,645.10.

Used Abbreviations

P = Principal.

R = Rate of Interest.

T = Time.

A = Amount.

I = Simple Interest.

Oct. = October.

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