Question

What sum of money borrowed on 24th Maywill amount to 10,210-20 on 17th Octoberof the same year at 5 percent per annum simple interest​

Answer 1

Answer:10010

Step-by-step explanation:

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:

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