renu took a loan at si rate of 6% in 1 yr with an increase of .5% in each subsequent yr.he paid interest of rs 3375 after 4 yr.how much loan did she take?
17307.69???
now i got 12500. is this correct?
To solve this problem, we need to break it down into smaller steps.
Step 1: Determine the interest rate for each year.
Renu took a loan at a simple interest rate of 6% in the first year, with an increase of 0.5% in each subsequent year.
So, the interest rates for the subsequent years will be:
First year: 6%
Second year: 6% + 0.5% = 6.5%
Third year: 6% + (2 * 0.5%) = 7%
Fourth year: 6% + (3 * 0.5%) = 7.5%
Step 2: Calculate the total interest paid after 4 years.
We are given that Renu paid interest of Rs 3375 after 4 years.
Step 3: Calculate the loan amount.
Let's assume the loan amount is L.
The interest for each year can be calculated as:
First year interest = (L * 6%) = 0.06L
Second year interest = (L * 6.5%) = 0.065L
Third year interest = (L * 7%) = 0.07L
Fourth year interest = (L * 7.5%) = 0.075L
Therefore, the total interest paid after 4 years can be calculated by summing up the interest for each year:
0.06L + 0.065L + 0.07L + 0.075L = 3375
Step 4: Solve for L.
Combining like terms, we have:
0.255L = 3375
Dividing both sides of the equation by 0.255 gives us:
L = 3375 / 0.255
Using a calculator, we can find:
L ≈ 13235.294
Therefore, Renu took a loan of approximately Rs 13,235.294.