Question

14. Mr Sharma borrowed some money from a friend at the interest rate of 8% per annum. He
repaid his debt by paying₹16800 at the end of 5 years. How much did he borrow?​

Answer 1

Answer:

Full solution answer is in attachment. image.⬆️⬆️

Step-by-step explanation:

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Borrowed money = ₹ 12000/-

Answer 2

Answer:

₹ 11 434

Step-by-step explanation:

Compound interest = P × [ 1 + (R/100) ] ^ T

₹ 16 800 = P × [ 1 + (8/100)]⁵

₹ 16 800 = P × [ 1 + 0.08 ]⁵

₹ 16 800 = P × 1.08⁵

₹ 16 800 = P × 1.47

P = ₹ 16 800 ÷ 1.47

P = ₹ 11 434