Question

a certain sum of money was borrowed at 6% p.a. for a period of 3 years and 8 th month.if the amount refunded together with interest is Rs.2049.60, find tje amount of money that was initally borrowed

Answer 1

hello Radha

Let the Principal amount = X
Rate = 6%
Amount = 2049.60

interest = Amount - Principal
Interest = 2049.60 - X

Amount was taken for 3yrs but it was refund after 3 yrs and 8th months

Simple Interest = Principal × Rate × Time

2049.60 - X = X × 6/100 × 44/12

2049.60 = 22X/100 + X

2049.60 × 100 = 122X

204960 = 122 X
X = 1680

Hence the Principal amount which was borrowed is ₹ 1680
And Interest charged on it ₹ 369.6

hope it helps

Answer 2

Let intial amount of money = P
rate ( r ) = 6 % per annum
time ( t ) = 3 years 8 months = 3years + 8/12 year = (3 + 2/3) years = 11/3 years
total amount after 11/3 years ( A ) = 2049.6 Rs
it means ,
A = SI + P
2049.6 = P × r × t/100 + P
2049.6 = P × 6 × 11/3/100 + P
2049.6 = 22P/100 + P = 122P/100
P = 2049.6 × 100/122 = 1680

hence, amount of money that was borrowed = 1680 Rs