Question

What sum will yield Rs.406 as simple interest in 1 year 2 months at 61

4

% per annum? in detail

Answer 1

Let the sum borrowed be P.

: .

P×14×61 / 4×100 = 406
=> P×854 / 400 = 406
=> P×427 / 200 = 406
=> P×427 = 406×200 = 81200
=> P = 81200/427
= 190 70/427

: . The sum borrowed is Rs. 190 70/427.