Question

A sum reckoned at 20% per annum amount to ₹ 40983 in 10 years 31 days.find the sum

Answer 1

Answer:

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Answer 2

ANSWER:

• The sum = ₹ 13,588.5

GIVEN:

• A = ₹ 40983

• n = 10.08 years

• r = 20%

TO FIND:

• The sum

FORMULA:

• A = P + S.I

• S.I = pnr / 100

EXPLANATION:

$40983 = \dfrac{p \times 10.08 \times 20}{100} + p \\ \\ \\ 40983 = \dfrac{p \times 10.08 \times 2}{10} + p \\ \\ \\40983 = \dfrac{20.16p}{10} + p \\ \\ \\40983 = \dfrac{20.16p+ 10p}{10} \\ \\ \\ 409830 = 30.16p \\ \\ \\ p =\dfrac{409830}{30.16}\\ \\ \\p = Rs. 13,588.5$

HENCE THE SUM WILL BE ₹ 13,588.5.

SOME MORE FORMULAE:

• Simple interest - A = P( 1 + rt)

where A = Future interest , P = principal , r = rate of interest

• Continuly compounded intetest A = Peⁿ

Where A = Future interest , P = principal , r = rate of interest, n = time