Question

A sum was borrowed on 7 th April 2008 and amounted to 12,544 Rs on 24 th July 2008 at 6% per annum.Find the money borrowed.


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Answer 1

Hey mate,

# Answer- Rs.12326

# Given-
Rate of interest = 6 %p.a.
Time elapsed = 7th April to 14th july
Time elapsed = 108 days = 0.295 year
Amount returned = 12544

# Solution-
Consider pricinpal amount= P
Here total amount returned is given


Interest = Principal amount × Interest rate × Time
Interest = P × 6/100 × 0.295 = 1.77% P
Total amount returned = Principal amount + Interest
Total amount returned = P + 1.77%P
12544 = P(101.77/100)
P = 12544×100/101.77
P = 12326 Rs.

He has taken 12326 Rs.loan.

Thanks for asking...

Answer 2

hope this helps you

thanks