Question

4. If Sohail pays 1.30 for using Prabhu's money from
2nd January to 7th January at 3% per month, how much
loan had Sohail taken from Prabhu?​

Answer 1

Step-by-step explanation:

Given If Sohail pays 1.30 for using Prabhu's money from  2nd January to 7th January at 3% per month, how much  loan had Sohail taken from Prabhu?​

• Amount paid by Sohail = Rs 1.30
• Rate of interest for 1 month = 3% = 3/100 = 0.03 (30 days)
• Rate of interest for 1 day = 0.03 / 30  
•                                          = 0.001
• Therefore rate of interest for 6 days will be 0.001 x 6
•                                                                = 0.006
• Let the principal amount be a
• So a + a(0.006) = 1.30
• So a(1 + 0.006) = 1.30  
• 1.006 a = 1.30
• Or a = 1.30 / 1.006
• Or a = 1.299

So Rs 1.299 was the loan taken by Sohail from Prabhu.

Reference link will be

https://brainly.in/question/6322127

Answer 2

1.29 Rs. had Sohail taken from Prabhu.

Step-by-step explanation:

• Given data

       Rate of interest (R) = 3% per month

       Means

       $\mathbf{\textrm{Rate of interest (R) } =\frac{3}{30}}$ % per day

       Total amount paid by Sohail (A) = 1.30 Rs.

       Principle = P = Unknown

       Number of days (T) = 7 -2 +1 = 6 days

• Above 1 is added for second day of January is also included.

• From formula

        $\mathbf{A =P\left ( 1+\frac{RT}{100} \right )}$

• On putting respective value in above equation

        $\mathbf{1.3 =P\left ( 1+\frac{3\times 6}{30\times 100} \right )}$

        $\mathbf{1.3 =P\left ( 1+\frac{1\times 6}{10\times 100} \right )}$

        1.3 =P( 1+ 0.006)

        1.3 = 1.006×P

        So

        P = 1.29 Rs. =This is loan which Sohail taken from Prabhu.