rehan lent some money to praveen at 10% per annum S.I. ON 1st January, 2012 praveen paid back rs 2128 to rehan on 13 march, 2012 what amount did praveen borrow from rehan .
Answers
Answer:
If the sum of money lends by Rehan from 1st Jan 2012 to 13th March 2012 at 10% p.a. which amounts to Rs. 2128, then Pravin borrowed Rs. 2087.09 from Rehan.
Step-by-step explanation:
Required formula:
- S.I. = [PRT]/100
- A = P + S.I.
Let the sum of money that Pravin borrowed from Rehan be Rs. “P”.
The amount Praveen gave back to Rehan, A = Rs. 2128
The rate of interest, R = 10% p.a.
The time period “T” from 1st Jan 2012 to 13th March 2012 will be,
= 31 + 29 + 12
= 72 days
Since 2012 is a leap year so we will divide by 366 days
= [72/366] year
= 0.196 year
Now, combining both the above formulas and substituting the given values we get
A – P = [PRT]/100
⇒ 2128 – P = [P×10×0.196]/100
⇒ 212800 – 100P = 1.96P
⇒ 101.96P = 212800
⇒ P = 212800/101.96
⇒ P = Rs. 2087.09
Thus, Praveen borrowed Rs. 2087.09 from Rehan.
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