Question

A man borrows rs 5500 from a money lender at 16% per annum s.i . After some time he paid back rs 8580. Find the time

Answer 1

Answer:

Amount borrowed = P = 25 500 Rate of Interest = 24%. Time = 2 years

Considering simple interest Interest amount = 5 500 x 24×72/106 100 = Rs 2640

Armount Lent = Rs 5500 Rate of interest = 36%. Time= 2 years

Considering simple interest

Interest amount = 5500 x 36 x 2 100

= Rs 3960 Annount earned = 3960 - 2640 = Rs 1320 option ( is correct answer

Step-by-step explanation:

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Answer 2

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Given:

Principal- Rs.5500

Amount- Rs.8580

Rate- 16%

Solution :

Interest- Rs.(8580-5500) = Rs.3080

Time- (3080*100)/(5500*16)

= 3.5 years.

$\therefore \rm{ \purple{Time=3.5 years}}$