Question

A man takes a loan of some amount at some rate of simple interest. After three years, the amount is doubled and rate of interest is decreased by 2%. After 5 years, if the total interest paid on the whole is 13,600 which is equal to the same when the first amount was taken for 23/2years. Find out the loan taken initially. ​

Answer 1

Answer:

Answer. A man takes a loan of some amount at some rate of simple interest. After three years, the amount is doubled and rate of interest is decreased by 2%. After 5 years, if the total interest paid on the whole is 13,600 which is equal to the same when the first amount was taken for 34/3 years.