A man borrowed Rs X from 2 money lenders for 6 months with an interest of Rs Y .?

Question

A man borrowed Rs X from 2 money lenders for 6 months with an interest of Rs Y .

and Rs Z.Finally he had to clear a debt which was double the amount that he borrowed.so finally what was the compound interest that has been gained by the lender?

Answer 1

so, X = Y + Z

total debt paid = 2X

assuming he have to pay X amount to each lender;

hence, the compounded int ( i ):

Y x [ ( 1 + i )^6 ] = X

i = [ ( X/Y )^(1/6) ] - 1 equation (1)

and i = [ ( X/Z )^(1/6) ] - 1 equation (2)

eqtn (1) = eqtn (2)

simplify the inequalities

then:

Ln ( X/Y ) = Ln ( X/Z )

hence: X/Y = X/Z
Y = Z

substitute into eqtn (1) or eqtn (2)

then you will get i = 12.25%

Answer 2

Assuming you meant lenders (not lender) as your last workd the answer should be simply X (he borrowed a total X from two lenders and he has to repay a total of 2X...therefore, the interest earning realized by the borrowers will be simply X).

Answer 3

I've read this question 2 or 3 times and I **still** don't understand the details.

I hate to insult your English, Pal, because I know you're working at it. But could you try it again?


Doug

Answer 4

I'm also eager to know that