rihan land some money to pravin at 10% per annum on 1st January 2012 Praveen feedback 2128 to Rehan on 13 March 2012 what amount did pravin borrow from Rehan
Answers
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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