Question

Ram borrowed a sum of rupees 2,000 from his friend on 1 May at rate of 5%. An emergency arose and he hi again borrowed rupees hundred on 24 September at the same rate of interest if the if he returned his loan along with the interest on 6 December how much was total amount returned

Answer 1

Answer:2161

Step-by-step explanation:

Case 1:

Principal = 2000

Rate of Interest = 5%

Time = 1 May to 6 December = 219 days = 219/365 year = 3/5 years

Simple Interest = PTR/100 =

2000 x 3 x 5/ 100 x 5 = 60

Amount = Simple Interest + Principal = 2000 + 60 = 2060

Case 2 :

Principal = 100

Rate of Interest = 5%

Time = 24 September to 6 December = 73 days = 73/365 years = 1/5 years

Simple Interest = PTR/100 =

100 x 1 x 5/ 100 x 5 = 1

Amount = 100 + 1 = 101

TOTAL AMOUNT = 2060 + 101 = 2161