Question

Rs 550 was borrowed on July 1 and repaid on November 24 of the same year with interest at the rate of 17\4 per annum.What was the amount of repayment?

Answer 1

Answer:

554.93

Step-by-step explanation:

There are 31 days in July,

31 days in August,

30 days in September,

23 days in November................. (GIVEN)[since he will return money on 24 November so he will not count that day]

Therefore,

Adding➕ all days

31+31+30+23=116 days.

4.25% interest

therefore........

4.25÷100×116= 4.25

= 550+4.25

=₹554.95