Pawan borrowed a sum of rupees 2,000 from his friend on 1st May at the rate of 5% p.a. and emergency arose and again borrowed rupees 2,000 on 24 September at the same rate of interest. if he returned his loan along with interest on 6 December how much was the total amount return.
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Answer:
P1=2000RS
T1=1ST MAY TO 6 DECEMBER=219days=219/365years=3/5years
R1=5%
SI1=P1×T1×R1/100=2000×3×5/500=60rs
A1=P1+SI1=2000+60=2060rs
P2=2000rs
T2=24sep to 6dec=73days=73/365years=1/5years
R2=5%
SI2=P2×T2×R2/100=2000×1×5/500=20RS
A2=P2+SI2=2000+20=2020rs
Total amount=A1+A2=2060+2020=4080rs
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