Repay, interest, loan

Ramchacha takes a loan amount of 240000 from a bank for constructing a house at the rate of simple interest of 12% per annum. After 1 yr. of taking the loan he rents the house at the rate of 5200 per month. Determine the number of years he would take to repay his loan along with the interest from the income of the house rent.

Result

n =  9

Solution:

240000 + 240000 * 0.12 * n = 5200 * 12 * (n-1)

33600n = 302400

n = 9

Calculated by our simple equation calculator.

Leave us a comment of this math problem and its solution (i.e. if it is still somewhat unclear...):

Showing 1 comment: Dr Math
Even in compound interest, problem has no solution:

a * q^n = 5200 * 12* (n-1)
240000 * 1.12^n = 5200 * 12* (n-1)
240000 * 1.12^n = 62400 * (n-1)

n doesnt exist To solve this verbal math problem are needed these knowledge from mathematics:

Our percentage calculator will help you quickly calculate various typical tasks with percentages.

Next similar math problems:

1. Loan 4 Mr santos borrowed Php.18,000 at 1.5% interest for one year. What was the total amount he paid for the end of the 1-year term?
2. Annual pension Calculate the amount of money generating an annual pension of EUR 1000, payable at the end of the year and for a period of 10 years, shall be inserted into the bank to account with an annual interest rate of 2%
3. Shuyen Shuyen wanted to save some money. She deposited Php.300 in a bank which pays 0.5% interest per annum. After nine months, she needed the money to buy some gifts. How much will she be able to get if he withdraws all her money from the bank?
4. Combined interest Combined interest: Carol has deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. The money was put into the account 5.5.2016 and withdraw them all before Christmas 20.12.2016. How much money did she withdraw?
5. Compound interest Compound interest: Clara deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. Both money and interest remain deposited in the bank. How many CZK will be in the bank after 3 years?
6. 3 years savings Simple interest - Tereza has deposited CZK 100,000 in the bank with an annual interest rate of 1.5%. Interest is added each year and left aside. How many CZK crowns will has total after 3 years?
7. Interest What is the annual interest rate on your account if we put 32790 and after 176 days received 33939.2?
8. Simple interest 4 Find the simple interest if 5243 USD at 4.3% for 261 days. Assume a 361-day year.
9. Theorem prove We want to prove the sentence: If the natural number n is divisible by six, then n is divisible by three. From what assumption we started?
10. Loss A bookstore purchased from a publisher the biography of a well-known politician for R15 per copy, but sales have been very poor. The manager has decided to mark the copies down to R12 each to make a quick sale. Calculate the loss on each book as a percenta
11. Enterprise The value of annual production enterprise is 7.1 million USD. The average annual growth rate is 1.5%. What will be value of production at the end of the fifth year?
12. Profit gain If 5% more is gained by selling an article for Rs. 350 than by selling it for Rs. 340, the cost of the article is:
13. Borrowing I borrow 25,000 to 6.9% p.a.. I pay 500 per month. How much will I pay and for how long?
14. BTC bubble One of the world's experts in bubbles -- Prof. Robert Shiller, a Yale economist -- said Bitcoin "was an amazing example of a bubble" back in 2014. If you exchange fiat US dollar \$100 to BTC in 2010, now in 2017 have value of 72.9 millions dollars. Find.
15. Summerjob The temporary workers planted new trees. Of the total number of 500 seedlings, they managed to plant 426. How many percents did they meet the daily planting limit?
16. Car value The car loses value 15% every year. Determine a time (in years) when the price will be halved.
17. Drilling machine A manufacturing firm purchased a heavy duty drilling machine. They were given two payment options: Option 1: Make a payment of \$46,000 immediately to settle the invoice for the machine. Option 2: Make a payment of \$21,500 immediately and the balance of \$