Question
Download Solution PDFArchana took a loan of ₹78,000 from a bank on 24th January 2012 at
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven :
Principal = Rs.78000
Time = 146 days
Rate = 35/4 %
Formula Used :
SI = (P × R × T)/100
Calculation :
Jan. = 8 days
Feb. = 29 days
March = 31 days
April = 30 days
May = 31 days
June = 17 days ----(not 18 because she paid it back on 18th June)
So, 8 + 29 + 31 + 30 + 31 + 17 = 146 days
⇒ SI = 78000 × 35/4 × 146/366 × 1/100
⇒ SI = 3985800/1464 = 2722.54098
Amount = 78000 + 2722.54098 = 80722.541
Amount = Rs.80723
∴ The correct answer is Rs.80723.
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