A man borrows rupees 4500 at 8% per annum S.I. on 7th January 1997 .He paid back the entire principal through with interest on 14th August 1997 how much money did he pay

Asked by aryaakhil | 22nd Sep, 2019, 08:57: AM

Expert Answer:

P = Rs. 4500, r = 8% p. a. n = 220 days from 7th Jan 1997 to 14th Aug 1997
 
SI = 4500 × 220/365 × 8/100 = Rs. 216.98 ≈ Rs. 217
He paid 4500 + 217 = Rs. 4717

Answered by Sneha shidid | 4th Oct, 2019, 09:44: AM