Question

8. Mohan returned Rs. 3024 to a merchant after 4 years. If the rate of interest is 11% per annum, how much money did he borrow?​

Answer 1

Step-by-step explanation:

We have principal P = 2520 Rs

Amount A = 3024. Therefore S.I =3024 - 2520=Rs 504

Applying formula for S.I.

504 = (2250 × R × 4 ) /100

R = ( 504 × 100 ) /2250 = 5.6 %

In second case P = 520 Rs and Amount A = 611Rs

S.I = 611 - 520 = 91 Rs

Applying formula for S.I

91 = ( 520 × 5.6 × t) /100

t = (9100) /(520 × 5.6 ) = 3.125 years or 3 years and one and half months.

Answer 2

Answer:

P

1

=4800

t

1

=

2

9

years

P

2

=2500

t

2

=6 years

Let the rate be r% per annum.

2×100

4800×9×r

+

100

2500×6×r

=2196

366r=2196

r=6% per annum

Step-by-step explanation:

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