Question
Neha borrowed some money from Priya at 6% p.a. simple
interest for 6 years. After 6 years, she returned the amount to Priya and again borrowed 3/5th of the amount she had borrowed from Priya, from Rakesh at 15% p.a. simple interest for 3 years. If the total money borrowed by Neha is Rs. 20,000, find the money repaid by her to Priya and Rakesh.Solution
ATQ,
Let the amount borrowed by Neha from Priya be Rs. ‘x’. So, the amount borrowed by Neha from Rakesh = Rs. (3x/5)
Money to be repaid to Priya = 12500+(12500×0.06×6) = Rs.17000 Money to be repaid to Rakesh:
7500+7500×0.45 = Rs.10875 Total amount to be repaid by Neha = 17000+10875 = Rs.27875
Which type of analysis involves comparing the financial ratios of different firms at the same point in time?
Which of the following will be the features of Zero Risk?
I. It does not have any uncert...
Which benchmark has been mandated by RBI for floating rate loans to retail and MSME borrowers?
What is the minimum limit for investment in the Sovereign Gold Bond Scheme?
Which term refers to the specific rate of interest carried by a bond?
Which of the following documents’ information is considered for calculating the investment in plant and machinery or equipment , for an existing enter...
Sale of an inventory of a firm would be classified as a:
Cost or expenses must be recorded at the same time as the revenue to which they correspond is specified by which principle?
What financial situation does an entity face if it is described as having negative working capital?
Which instrument represents the ownership of a company in the capital market?