An amount of sum, when invested at $10 %$ $10%$ becomes $$ 100, 000$ $$100,000$ in $150$ $150$ days. What is the original amount assuming there are $360$ $360$ days in a year?

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Answer 1 · 2018-02-05T08:03:10

Present value is $$ 960, 000$ $$960,000$ .

Let the present value be $P$ $P$ .

Then this $P$ $P$ after $150$ $150$ days at $10 %$ $10%$ shuld become

$P \times (1 + \frac{10 \times 150}{100 \times 360}) = 1000000$ $Pxx(1+(10xx150)/(100xx360))=1000000$

or $P \times (1 + \frac{15}{360}) = 1000000$ $Pxx(1+15/360)=1000000$

or $P \times \frac{25}{24} = 1000000$ $Pxx25/24=1000000$

i.e. $P = 1000000 \times \frac{24}{25} = 960000$ $P=1000000xx24/25=960000$

An amount of sum, when invested at 10%10%10% becomes $100,000$100,000$100,000 in 150150150 days. What is the original amount assuming there are 360360360 days in a year?