Question

A sum of money was borrowed by Akshay from Vicky at 25/4% p.a. simple interest on 1st February, 2010. Akshay repaid the money with interest when the interest became Rs 5. On what date did Akshay repay the money?

Answer 1

Answer:

Can not be determined.

Step-by-step explanation:

Since, the simple interest formula is,

$I=\frac{P\times r\times t}{100}$

Where,

P = principal amount,

r = annual rate,

t = time in years,

Here, r = $\frac{25}{4}\%$ and I = 5 rupees,

By substituting the values,

$5 = \frac{P\times \frac{25}{4}\times t}{100}$

$5 = \frac{25Pt}{400}$

$5=\frac{Pt}{16}$

$\implies Pt = 80$

Since, there are two variables P and t and only one equation,

Also, for finding the date of repayment we need the value of t.

Which can not be possible,

Hence, answer can not be determined.