A person lent out some money for 1year at 6% per annum simple interest and after 18months he again lent out the same money at a simple interest of 24% per annum. In both cases he got Rs.4704. What was the amount that he lent out if interest is paid half yearly? a.4000 b.4400 c.4200 d.3600
Answers
Answered by
15
Let amount was 100.
According to question,
100 + (4% of 100) * 3 = 4704
100 + 0.04 * 3 * 100 = 4704
112 = 4704
1= 4704/112
So,
100 = (4704 * 100)/112 = 4200.
Required Amount = 100 = Rs. 4200.
According to question,
100 + (4% of 100) * 3 = 4704
100 + 0.04 * 3 * 100 = 4704
112 = 4704
1= 4704/112
So,
100 = (4704 * 100)/112 = 4200.
Required Amount = 100 = Rs. 4200.
Answered by
45
Answer:
Step-by-step explanation:
How do we get 4 % interest rate?
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