A farmer, for purchasing seeds and fertilisers, borrowed a loan from a co-operative bank. After two years he paid 5434 and settled the account. If the rate of simple interest is 2 1/4% per annum , what sum did he borrow ?
Answers
Given that,
Given that,Amount (A)=Rs.5434
Given that,Amount (A)=Rs.5434Time (T)=2 years
Given that,Amount (A)=Rs.5434Time (T)=2 yearsRate of interest (R)=241 % =49 %
Given that,Amount (A)=Rs.5434Time (T)=2 yearsRate of interest (R)=241 % =49 %Principle (P)=?
Given that,Amount (A)=Rs.5434Time (T)=2 yearsRate of interest (R)=241 % =49 %Principle (P)=?∵A=P(1+100TR)
Given that,Amount (A)=Rs.5434Time (T)=2 yearsRate of interest (R)=241 % =49 %Principle (P)=?∵A=P(1+100TR)⟹5434=P(1+4×1002×9)
Given that,Amount (A)=Rs.5434Time (T)=2 yearsRate of interest (R)=241 % =49 %Principle (P)=?∵A=P(1+100TR)⟹5434=P(1+4×1002×9)⟹5434=P(1+2009)
Given that,Amount (A)=Rs.5434Time (T)=2 yearsRate of interest (R)=241 % =49 %Principle (P)=?∵A=P(1+100TR)⟹5434=P(1+4×1002×9)⟹5434=P(1+2009)⟹5434=P(200209)
Given that,Amount (A)=Rs.5434Time (T)=2 yearsRate of interest (R)=241 % =49 %Principle (P)=?∵A=P(1+100TR)⟹5434=P(1+4×1002×9)⟹5434=P(1+2009)⟹5434=P(200209)⟹P=5434×209200=26×200=5200
Given that,Amount (A)=Rs.5434Time (T)=2 yearsRate of interest (R)=241 % =49 %Principle (P)=?∵A=P(1+100TR)⟹5434=P(1+4×1002×9)⟹5434=P(1+2009)⟹5434=P(200209)⟹P=5434×209200=26×200=5200∴ Sum borrowed =Rs.5200