Question

If Kabir pays back Rohan Rs.$6232.50$ for the loan of Rs $4500$ that he had tajen at $28\%$ interest p.a., how many months did Kabir take to pay back Rohan's money?

Answer 1

$P=24500$

A$=26232.50$

R$=28\%$ pa

T$=$ T years

$SI=\frac{P\times R\times T}{100}$

$A-P=\frac{P\times R\times T}{100}$

$6232.50-4500=\frac{4500\times 28\times T}{100}$

$1732.50=\frac{4500\times 28\times T}{100}$

$1732.50=1260\times T$

$T=\frac{1732.50}{1260}$

$T=1.375$ years

$=1.375\times 12$ months

$=16.5$ months

$=16\times \frac{1}{2}$ months.