Advertisement Remove all ads

What sum of money borrowed on 24th May will amount to Rs.10210.20 on 17th October of the same year at 5 percent per annum simple interest. - Mathematics

Sum

What sum of money borrowed on 24th May will amount to Rs.10210.20 on 17th October of the same year at 5 percent per annum simple interest.

Advertisement Remove all ads

Solution

A = Rs. 10210.20
R = 5% P.A.
T=May + June + July + August + Sept.+ Oct.

= 7 + 30 + 31 + 31 + 30 + 17

=`146/365` days =`2/5` year

We know that :

P + I = A

`⇒"P"+("P"xx"R"xx"T")/100="A"`

`⇒"P"(1+("R"xx"T")/100)="A"`

`⇒"P"(1+(5xx2/5)/100)` = Rs.10210.20

`⇒"P"(1+2/100)` = Rs.10210.20

`⇒"P"xx102/100` = Rs.10210.20

⇒ P = Rs.`10210.20xx100/102`

⇒ P = Rs.`1021020/102`

⇒ P = Rs.10010

∴ Money to be borrowed = Rs.10010

  Is there an error in this question or solution?
Advertisement Remove all ads

APPEARS IN

Selina Concise Mathematics Class 8 ICSE
Chapter 9 Interest
Exercise 9 (A) | Q 9 | Page 106
Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×