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Anjali samaria

· started a discussion

· 1 Months ago

a (Question: 188643.0 )

how we assume that i should pick 8000

Question:
A man borrows some money at 3% simple interest per annum and lends it to somebody at 5% interest to be compounded annually. By this he makes a profit of Rs. 541 at the end of 3 years. The money he borrowed was –
Options:
A) Rs. 8,000
B) Rs. 6,762
C) Rs. 6,000
D) Rs. 8,070
Solution:
Ans: (a) 


Knowledge Expert

· commented

· 1 Months ago

Dear Student,

5% for 3 years ....... 5% = 1/20....... 20 x 3 = 8000 ......... this way we assume the principal

...... for example ..... if it would have been 20% .....

we can assume ......20% = 1/5 ....... 5x5x5 = 125

here we can assume 125 as principal for convenience

Hope it helps.
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