Question

2) Lataben borrowed some money from a bank at the rate of 12 p.c.p.a. simple
interest for 2and half years to start a cottage industry. She paid 7 30,000 as total
interest. How much money had she borrowed?​

Answer 1

Answer:

Given,

Lataben borrowed some money from a bank at an interest of 10 p.c.p.a

Time =2

2

1

​

years

Total interest paid =Rs.10,250

also given, to find out how much amount did Lataben actually borrow from the bank.

Let the money borrowed be =P

I=

100

P×T×R

​

⇒I=

100

P×2

2

1

​

×10

​

⇒10,250=

100

P×

2

5

​

×10

​

10,250×100=P×25

P=

251

10,250×100

​

P=10,250×4=41,000

Amount taken by Lataben from bank =41,000Rs.

Step-by-step explanation: