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S a c h i n space space t o o k space a space l o a n space o f space R s. space 16500 space f r o m space a space b a n k space o n space 3 r d space j a n u a r y comma space 2006 space a t space 10 1 half percent sign space p e r space a n n u m space a n d
p a i d space i t space b a c k space o n space 17 t h space M a r c h comma space 2006. space F i n d space t h e space T o t a l space a m o u n t space p a i d space b y space s a c h i n.

Please provide solution to this question

Asked by Topperlearning User 23rd September 2016, 10:51 AM
Answered by Expert
Answer:

L o a n space t a k e n space b y space S a c h i n space left parenthesis P right parenthesis equals space R s. space 16500
R a t e left parenthesis left parenthesis R right parenthesis equals space 10 1 half percent sign space equals space 21 over 2 percent sign space p. a
t i m e left parenthesis T right parenthesis equals space 3 r d space j a n space 2006 space t o space 17 t h space m a r c h space 2006 equals
space space space space space space space space space space space space space space equals space 28 plus space 28 plus 17 space equals space 73 space d a y s
space space space space space space space space space space space space space space space equals 73 over 365 space y e a r s space equals space 1 fifth y e a r s
T h e r e f o r e space t h e space s i m p l e space i n t e r e s t space i s space space equals fraction numerator P R T over denominator 100 end fraction
space space space space space space space space space space space space space space space equals space fraction numerator 16500 cross times 21 cross times 1 over denominator 100 cross times 2 cross times 5 end fraction equals space fraction numerator 33 cross times 21 over denominator 2 end fraction equals 693 over 2
space space space space space space space space space space space space space space space space equals space R s.346.50
T h e r e f o r e space t o t a l space a m o u n t space t o space b e space p a i d space b y space S a c h i n space i s space equals space P r i n c i p l e plus space S i m p l e space i n t e r e s t
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals space R s. space 16500 plus R s. space 346.50
space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space space equals R s. space 16846.50 space space A n s
space space space space space space space space

Answered by Expert 23rd September 2016, 12:51 PM
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