Question

Rahamatchacha takes a loan amount of 2,40.000 from a back for coming building
at the rate of simple interest of 12%aper annum. Afterly of taking the herom the
house at the rate of 5200 per month. Let us determine the number of yn he would
to repay his loan along with interest from the income of the house
​

Answer 1

Answer:

The number of years is 9 years.

Step-by-step explanation:

The number of year is 9 years.

Given

Principal ( P ) = Rs. 2,40,000

Rate ( r ) = 12%

Number of years ( n ) = ?

Simple Interest ( S . I ) =$\frac{ (P * r * t )}{100}$

Before 1 year, the simple interest is :

                          S . I =$\frac{ (P * r * t )}{100}$

                                 = $\frac{2,40,000 * 12 *n}{100}$

                          Amount = Principal + Simple Interest

                          Amount = $2,40,000 + (\frac{2,40,000*12*n}{100} )$  -----> ( 1 )

After 1 year, the amount is :

                           Amount = 5,200 × 12 × ( n - 1 )   -----> ( 2 )

Now, equate equation ( 1 ) and equation ( 2 ),

$2,40,000 + (\frac{2,40,000*12*n}{100} )$ = 5,200 × 12 × ( n - 1 )

2,40,000 + ( 2400 × 12 × n ) = 5,200 × 12 × ( n - 1 )

Divide the above equation by 100, it gives

2400 + 24 × 12 × n = 52 × 12 × ( n - 1 )

Divide the above equation by 12, it gives

200 + 24 × n = 52 × ( n - 1 )

200 + 24 × n = 52n - 52

200 + 52 = 52n - 24n

         252 = 28 n

              n = 252 / 28

                 = 9

Therefore, the number of years is 9 years.

To learn more...

Rehmat Chacha takes a loan of amount of 240000 from a bank for constructing a building at the rate of simple interest of 12% per annum after 1 year of taking the loan he rents the house at the rate of rupees 5200 per month. let me determine the number of years he would take to repay his loan along with interest from the income of house rent.​