Question

Lalith borrowed some money at 11% p.a. He had to pay ` 1540.00 as interest after 2 years 4 months. What sum did he borrow?

Please give step by step analysis. DO NOT SPAM.

Answer 1

Answer:

40656

Step-by-step explanation:

data - p = ?

R= 11 %

T= 2 year 4 months = 2.4

i= 1540

p= RxTxP

p= 40656

Answer 2

Step-by-step explanation:

Given:-

Lalith borrowed some money at 11% p.a. He had to pay ` 1540.00 as interest after 2 years 4 months.

To find:-

What sum did he borrow?

Solution:-

Let the borrowed money by Lalitha be Rs. X

Rate of Interest = 11%

Interest = Rs. 1540

Time = 2 years 4 months

=>2+(4/12) years

=>2+(1/3) years

=>(6+1)/3 years

=>7/3 years

We have

P = Rs. X

T = 7/3 years

R = 11 %

I = Rs. 1540

We know that

Simple Interest (I) = PTR/100

=> 1540 = X × (7/3)×11/100

=>1540 = (7×11×X) /(3×100)

=> 1540 = 77X /300

=>77X/300 = 1540

=>77X = 1540×300

=>X = 1540×300/77

=>X = 20×300

=>X = 6000

Principle = Rs. 6000

Answer:-

Money borrowed by Lalitha = Rs.6000

Check:-

I = PTR/100

=>I = 6000×(7/3)×11/100

=>I = (6000×7×11)/(3×100)

=>I = 6000×77/300

=>I = 20×77

=>I = 1540

Interest = Rs. 1540

Verified the given relation.

Used formula:-

• I = PTR/100
• Where,P = Principle
• T = time
• R = Rate of interest