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
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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
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