8. Mr. Sharma borrowed a certain sum of money at 10% per annum compounded annually. If by paying 19,360 at the end of the second year and 31,944 at the end of the third year he clears the debt; find the sum borrowed
him.
Answers
Let the term borrowed by Mr. sharma =xat 10%per annum for 2 yearsAmount =x(1+ 10010 ) 2 = 10121x
he than pays back 19360 Rs
⇒ Money left =
100
121x
−19360
Name with interest in 3rd year at 10% annum.
Amount =(
100
121x
−19360)(
10
11
)=31944
⇒(
100
121x
−19360)(
10
11
)=31944
⇒
100
121x
−19360=
11
31944×10
=29040
⇒
100
121x
=19360+29040=48400
⇒x=
121
48400×100
=40000 Rs
⇒ Sum borrowed =40000 Rs
Answer:
Rs.= 4000
Step-by-step explanation:
At the end of the two years the amount is
A1 = P ( 1 + r/100 )n
= A1 = P ( 1 + 10/100 )2
Mr.Sharma payed Rs.19,360 at the end of the second year.
A2 = P ( 1 + r/100 )n
= 31,944 = ( P ( 1 + 10/100 )2 - 19,360 ) ( 1 + 10/100 )1
= 29040 = ( P ( 1 + 10/100 )2 - 19,360 )
= ( P ( 1 + 10/100 )2 = 48,400
= P = Rs. 40,00
Mr.Sharma borrowed 40,000
Also F.Y.I i am 10 years old :)