1). 250002). 200003). 300004). 15000

1.	1). 250002). 200003). 300004). 15000
Answer» LET the sum BORROWED by Mohan = P Total SI to be paid by Mohan to the bank = P × 3 × 1/100 = 3P/100 [give SI rate = 3%] As GIVEN, rate of compound interest = 6% compounded HALF yearly We can say that, rate of CI is 3% compounded annually Total amount earned by Mohan by CI = P - P (1 + 3/100)² = P - P (103/100)² ⇒ P - (10609P/10000) = 609P/10000 Profit earned by Mohan = (total amount earned by CI) - (Total SI paid by Mohan to the bank) = 618 ⇒ (609P/10000) - (3P/100) = 618 ⇒ 309P/10000 = 618 ⇒ P = 20000 ∴ Amount borrowed by Mohan = Rs. 20000

Answer»

LET the sum BORROWED by Mohan = P

Total SI to be paid by Mohan to the bank = P × 3 × 1/100 = 3P/100 [give SI rate = 3%]

As GIVEN, rate of compound interest = 6% compounded HALF yearly

We can say that, rate of CI is 3% compounded annually

Total amount earned by Mohan by CI = P - P (1 + 3/100)² = P - P (103/100)²

⇒ P - (10609P/10000) = 609P/10000

Profit earned by Mohan = (total amount earned by CI) - (Total SI paid by Mohan to the bank) = 618

⇒ (609P/10000) - (3P/100) = 618

⇒ 309P/10000 = 618

⇒ P = 20000

∴ Amount borrowed by Mohan = Rs. 20000

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