Question

Mohan bought a new scooter for Rs 56000 three years back. He had to sell it due to some reason. When he went to sell, he was told that there is a depreciation of 10% per annum which will be charged. Heavy heartedly, he took the amount and came home and gave the money to his wife Sneha. She planned to give Radha Rs 4000 for 2 years and told her to return back Rs 4410 . Radha agreed to it. Radha added 28000 Rs in the money borrowed from Sneha and deposited in a bank for 6 months where the interest was charged quarterly at 5% per annum. Q1. What rate of interest Radha paid to Sneha? Q2. How much money Mohan gave to sneha? Q4. How much money Radha deposited in the bank? Q3. What Money Radha got back at the end of 6 months? Q5. Did Radha get any benefit or loss (in her 2 transactions )at the time of closure of loan? Plz answer

Answer 1

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Given,

Initial Value Of Scooter =P = rs.56000

Rate = R = 10%

Time = N =3 years

value=P*1-R100n. = rs.56000*1-101003

⇒rs.56000*100-101003

⇒ rs.56000*901003=rs.56000*9103=rs.56000*910*910*910=rs.56*9*9*9

⇒rs.40824

so,its value after 3 years will be 40824 rs.

Please don't mik so many questions