r=I/PT
We have P = 15 000, r = 0.07 and since the actual date the loan was taken out
is not given, we use t =7/12
I = Prt=$15 000* 0.07* 7/12 = $612.50
Amount repaid = Future or accumulated value,
S = P + I = $15 000 + $612.50 = $15 612.50
r = (100 x I)/(P x T)
I = (p x r x t)/100
I = $25.20
A = P+I
A = 235.20
Let rate = R% and time = R years.
Then,
=> R = 6.
S.I=PNR/100
Let p be the principle amount
And R% be the rate of interest
Then, required ratio =
= 2:3
We know that I = PTR/100
11 = (2x30xR)/100
R = 18.333 %
Let the sum be Rs. S.
(S x 18 x 2)/100 - (S x 12 x 2)/100 = 840 => 36S/100 - 24S/100 = 840
=> 12S/100 = 840 => S = 7000.
Let the sum be Rs. 100. Then,
S.I. for first 6 months = (100 x 8 x 1) / (100 x 2) = Rs. 4
S.I. for last 6 months = (104 x 8 x 1) / (100 x 2) = Rs. 4.16
So, amount at the end of 1 year = (100 + 4 + 4.16) = Rs. 108.16
Effective rate = (108.16 - 100) = 8.16%.
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