A man took a loan from a bank at the rate of 12% pa, simple interest,
After 3 years, he had to pay Rs, 5400 as interest for the period. What was
the principal amount borrowed by him?
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Answer:
Rs 15000
Step-by-step explanation:
Principle=
Rs (100×500/12×3)= 15000
Answered by
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Given - Interest, rate and time
Find - Principal
Solution - The principal amount borrowed by the man was Rupees 15000.
The simple interest can be calculated by the formula - principal*rate of interest*time/100
Keep the values in the formula to find the value of the principal.
Principal = 5400*100/(12*3)
Performing multiplication and division to find the value of principal.
Principal = 15000
Thus, the principal amount borrowed by the man was Rupees 15000.
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