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Anyone can help me with this Math question ?
Posted: Sun Feb 03, 2013 8:44 am
by Atomars
A businessman borrowed $9000 from a bank on 17th May 2000 at 12% ordinary simple interest using approximate time.
After a certain time, he paid back $9372. Find the date of repayment.
Answer : 21st Sept 2000
Anyone can give me tips to solve this ?
How to get 21st Sept 2000 ?
Posted: Sun Feb 03, 2013 9:55 am
by avatargirl
WANT ANSWER HERE- I CAN GIVE YOU APPROXIMATE ANSWER IF YOU WANT - 12 PERCENT OF 9000 DOLLARS IS 1080 DOLLARS- SO EVERY MONTH IF YOU PAID EQUAL AMOUNTS of interest EVERY MONTH you would pay 90 dollars interest- so 4 months would be 360 dollars plus 4 days would be approximate 12 dollars- total 9372 dollars when you add on 9000 dollars you are paying back to the 372 dollars interest- hope that helps ATOMARS- IF I AM WRONG I APOLOGIZE- pray you and everyone the very best ETERNAL SALVATION and safety!
Posted: Sun Feb 03, 2013 9:59 am
by racoonangel
Holy crap that is complex math problem solving someproblemsinmy class are even more complex just like pascals triangle
Posted: Sun Feb 03, 2013 10:37 am
by diehard67
avatargirl eats complex math for breakfast. lol
Posted: Sun Feb 03, 2013 10:39 am
by racoonangel
lol, that's a good one diehard67
Posted: Sun Feb 03, 2013 10:53 am
by diehard67
it's true too, she told me just now that she didn't even use a peace of paper or a calculator, she did that in her head, and she has done more complex math then that in her head.
*grabs my head before it spins itself off my shoulders*
Posted: Sun Feb 03, 2013 11:20 am
by Atomars
I solved the question
. Thanks for the help
12% interest rate
P x R x T
9000 x 0.12 x 1 = 1080
1080/365 days = 2.96
372/2.96 = 126.075 days
17 May 2000 + 126.075 days = 21 September 2000
Posted: Mon Feb 04, 2013 3:41 am
by Astro Forever
I certainly can't do that in my head, good job avatargirl!
Glad you found out, Atomars.