Question

6. Goutam took a loan from a Cooperative bank for opening a poultry farm at the rate of simple interest of 12% per annum. Every month he has to repay 318 as interest. Let us determine the loan amount taken by him.​

Answer 1

Answer:

Rs.31800

Step-by-step explanation:

let the loan taken by him be Rsp

rate of interest=12%

time=1month

=1/12 year

Interest=Rs318

p×12×1/12×1/100=318

p=31800

the loan taken by him was Rs31800