Latest Maths Aptitude Question SOLUTION: A woman borrows $3000 at 16% on August 15th. She pays $600 on September 15th , $800 on October 15th , $600 on December 15th. If she makes a final settlement on February 15th of t

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A woman borrows $3000 at 16% on August 15th. She pays $600 on September 15th , $800 on October 15th , $600 on December 15th. If she makes a final settlement on February 15th of the following year, How much will she pay? .

#Please explain before solution

Asked In Maths Abdul Rahman (9 years ago)

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Abdul Rahman  (9 years ago)

But the time (t) in this problem will be daily ( mean dealing with days ) not months , such as August 15th ( in this date the time of borrowing money(30000) started from 16th August. .etc)

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Abdul Rahman  (9 years ago)

Any one can solve it please?

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Abdul Rahman  (9 years ago)

Sorry, (3000)*

Please help

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akshay  (9 years ago)

$3000 * 16/100 = 480 it means every month she have to give $480 so she have to give this $480 upto 6 months so 480 * 6= 2880
now she had already given 600+ 800+ 600= 2000
so now 2880-2000 = 880
so answer is that she have to give 880 rs extra

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akshay  (9 years ago)

sorry for the above wrong answer actually in the question it is asking that she have to settle the whole money of the year so it is like this
3000 *16/100 = 480
480 *12= 5760
and she had already given 600+ 800 + 600= 2000
so 5760 - 2000 = 3760
so the answer is she have to give $ 3760 only.

(if i am wrong then do comment my mistakes) :)

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Abdul Rahman  (9 years ago)

Sorry, I mean that the borrowing of money (3000) started from the day 15th of august so the time here is daily not monthly.

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Shashank Singh  (9 years ago)

Is the interest on the amount monthly or yearly???Please mention if u know??

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Abdul Rahman  (9 years ago)

Yearly. .. but first u have to convert time(which is daily) to years.

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Abdul Rahman  (9 years ago)

Thank you for u effort
The right answer is 1141,4 $

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