Question

Neeraj borrowed a sum of money at 21/2% per annum from a bank. if he paid rs.1863.75 as interest for 5/2years , find the sum

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Answer 1

Answer:

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Answer 2

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$➾Simple\:interest=S=1863.25$

$➾Rate = r = 21\%$

$➾Time = t = 5 \: years$

➣Now

➯We have to find the principle

➯By using interest formula

$\sf ⇒SI = \dfrac{p \times r \times t}{100}$

➯Substitute the given values in formula

$\sf ⇒\dfrac{186375}{100} = \dfrac{p \times r \times t}{100}$

$\sf ⇒\dfrac{186375}{100} = \dfrac{p \times 25 </h3><h3>\times 5}{100}$

$\sf ⇒\dfrac{186375}{100 \times p} = \dfrac{25 \times 5}{100}$

$\sf ⇒p = \dfrac{186375}{100} \times \dfrac{100}{25 \times 5}$

$\sf ⇒p = \dfrac{186375}{25 \times 5}$

$\sf ⇒p = \dfrac{186375}{125}$

$\therefore \: p = 1491$

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