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

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Answer 1 · 2018-02-05T08:03:10

Present value is $$960,000$ .

Let the present value be $P$ .

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

$Pxx(1+(10xx150)/(100xx360))=1000000$

or $Pxx(1+15/360)=1000000$

or $Pxx25/24=1000000$

i.e. $P=1000000xx24/25=960000$

An amount of sum, when invested at 10%10% becomes $100,000$100,000 in 150150 days. What is the original amount assuming there are 360360 days in a year?