Question #292987

Joan lent 47331 € to Thomas and charged 468.4 € interest for the loan. The interest rate was 1.85 % (p.a.). How long was the loan period in calendar days?


1
Expert's answer
2022-02-03T17:58:23-0500

Sum lent by Joan = 47331 €, Interest = 468.4 € , rate of interest = 1.85 % (p.a.)

Simple interest = (Sum lent * rate of interest * time)/100

468.4=47331×1.85×T100T=0.53 year=0.53×365=193.45195 days468.4 = \frac{47331\times1.85\times T}{100}\\ T= 0.53\ \text{year}=0.53\times365=193.45\sim195\ days


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