Question

kritesh lend a certain sum of money to kristina. kristina cleared the loan after 146 days by paying the total sum of Rs 10260 at the rate of 6.5 percent interest P.A . Find the sum lent Kristesh.(assume 365 days in a year.

Answer 1

Step-by-step explanation:

To find the sum lent by Kritesh (Principal), we can use the formula for simple interest:

Simple Interest (SI) = (Principal × Rate × Time) / 100

Given:

Total amount paid (A) = Rs 10260

Rate of interest (R) = 6.5% per annum

Time (T) = 146 days

Number of days in a year = 365

First, let's convert the time from days to years:

Time (T) = 146 days / 365 days/year = 0.4 years

Now, we can rearrange the formula to solve for Principal (P):

P = (A * 100) / (R * T)

Substituting the given values:

P = (10260 * 100) / (6.5 * 0.4)

P = (1026000) / (2.6)

P ≈ Rs 394615.38

So, Kritesh lent approximately Rs 394615.38 to Kristina.