Question

Anoop took a loan of 350000 at 16% simple interest per annum to purchase a house for 20 years. After the end of this period, he was unable to repay the loan and due to the above, he thought to sale the house. But his wife Savita decided to sell her jewellery worth

* 1500000 to repay the loan. What amount will be left with Savita after repaying the loan ?

What value is depicted from this action ?​

Answer 1

Answer:

above attachment is right

Answer 2

Rate of interest = 37.5%

Fraction value of 37.5% = 3/8

Time = 3 years

3rd-year Compound interest = 7260

Concept:

If the fraction value of rate is 1/x then let the principal be x2 for 2 years and x3 for three years interest.

Calculation:

Let the fraction value of rate of interest be 1/x

Let the principal be x3

Then from the slab method it is given by

Here principal = (8)3 = 512

Interest for the 3rd year = (3/8) × 512 + 2 × (3/8) × 192 + (3/8) × 72 = 363 units

Now,

363 units = Rs. 7260

⇒ 1 unit = Rs. 20

⇒ 512 units = 20 × 512 = Rs. 10240

∴ principal amount is Rs. 10240