Math, asked by ambeshekharmispcf776, 1 year ago

A man borrowed a sum of money and agree to pay off by paying R.s 6300 at the end of the first year and Rs 8820at the end of the second year . If the rate of compound interest is 5% per annum find the sum borrowed

Answers

Answered by raven3
28
Hi

Hope this helps :)
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Answered by JeanaShupp
13

Answer: Rs. 14000

Step-by-step explanation:

Let the amount borrowed, Principle = P

Amount After 1 year

A= P(1+\dfrac{5}{100} )= P(1+\dfrac{1}{20} ) = \dfrac{21}{20} P

Amount payoff at the end of one year = Rs. 6300

Principle of the second year =\dfrac{21}{20} P- 6300

Amount for the second year

A= (\dfrac{21}{20} P- 6300) (1+ \dfrac{5}{100} )\\\\\Rightarrow 8820= (\dfrac{21}{20} P- 6300) ( \dfrac{21}{20} )\\\\\Rightarrow \dfrac{8820\times 20}{21} = (\dfrac{21}{20} P- 6300)\\\\\Rightarrow 8400 + 6300 =\dfrac{21}{20} P\\\\\Rightarrow \dfrac{14700\times 20}{21} =P\\\\\Rightarrow P= Rs. 14000

Hence, the person borrowed Rs. 14000

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