Question

What sum of money borrowed on 24th may will amount to rupees 10210. 20 on 17th October of the same year at 5% per annum simple interest

Answer 1

Given

Principal Amount= P = ?

Rate of Interest Per annum= R= 5 %

Time = T = 24may to 17th October
= 7 days + 30 +31 +31 + 30 +17 = 146 days

146/365 days = 0.4year

Amount = 10210.20

We know that

Amount= P(1+TR)

10210.20=P(1 + 0.4×5/100)

10210.20=P(1 + 0.02)

10210.20 =P(1.02)

10210.20/1.02 = P

10010= P is the Principal Amount

Answer 2

Answer:

Step-by-step explanation:

A sum of money borrowed on 26th march is repaid on 7th june in same year. If the simple interest paid ₹75.75at 7.5%p. a., find the sum borrowed.

Answer :

₹P.

given

i=₹75.75,

r=7.5

• us calculate tha period for which interest is cjarged.

month /marcht/april/may/june/Total/

numberofdays/5 / 30 /31 /7 /73 /

•: interest is changed for 73 day's

n=73÷365=1÷5year

{•:1year=365day's }

•: i=prn

100

•: 75.75=p×1 ×7.5

5

100

•: p=5050

i.e. sum borrowed is ¥5050.