Question

4. Mr Mehta borrowed a sum of money at 8% per annum. If he paid 640 as interest after 5×5/3
years (5 years 4 months), find the sum borrowed by him.
​

Answer 1

Answer:

Given :

Rate of Interest = 8 %

Time = 16/3 years (5 Years 4 Months)

S.I = 640

To Find : Sum borrowed by him P = ?

Proof:

We have Simple Interest formula

S.I = Principal X Interest Rate X Time

__________________________

100

=>640 = P X (8/100) X (16/3)

_______________

100

=>640 = P X (8/100) X (16/3)

=> P = 640 X 100 X 3

_____________

8 X 16

=> P = 80 X 100 X 3

___________

16

=> P = 5 X 100 X 3

=> P = 1500.

Hence the sum borrowed is P = 1500Rs.