Question

What sum of money borrowed on ${24}^{th}$ May will amount to Rs.10,210.20 on ${17}^{th}$ October of the same year at 5 per cent per annum simple interest.

• A. Rs.$9,811$
• B. Rs$.10,010$
• C. Rs.$13,526$
• D. Rs.$15,530$

Answer 1

The correct option is B Rs$.10,010$

Amount $=Principal+Interest$
Simple Interest $I=\frac{PNR}{100}$
Given,
$A=Rs10,210.20$
$N=8+30+31+31+30+16=146days=\frac{147}{365}year$
$R=5$ %
So, $=>A=P+\frac{PNR}{100}$
$=>10,210.20=P+\frac{P\times \frac{146}{365}\times 5}{100}$
On solving, we get $P=Rs10,010$