Question

A man took loan from a bank at the rate of 8% p.a. simple interest. after 4 years he had to pay rs. 6200 interest only for the period. the principal amount borrowed by him was:

Answer 1

..Hi ...
find this solution....

Answer 2

Answer:

Rs.19375

Step-by-step explanation:

Let Principal be x

Rate of interest = R = 8%

Time = 4 years

Simple interest = Rs.6200

Formula : $SI =\frac{P \times R \times T }{100}$

Substitute the values

$6200 =\frac{P \times 8 \times 4 }{100}$

$\frac{6200 \times 100}{8 \times 4} =P$

$19375=P$

Hence the principal amount borrowed by him was is Rs.19375