Question

Angad took a loan from a shopkeeper at 14% p. a. at simple interest. After four years he repaid 11700.The amount of loan he borrowed is Select one: a. 6500 b. 11000 c. 7500 d. 8500

Answer 1

Answer:

formula :

SI= P*R*T/100

Explanation:

SI=11700*14*4/100

SI=177*14*4

2478*4=9912

Answer 2

The amount of loan he borrowed is 7500.

Explanation:

Let P is the principal.

Rate, R = 14 %

After 4 year, repaid amount is 11700, A = 11700

The amount of equal to the sum of principal and interest. Simple interest is given by :

$I=\dfrac{P\times 14\times 4}{100}$

Amount is :

$A=P+I\\\\11700=P+\dfrac{P\times R\times t}{100}\\\\11700=P+\dfrac{P\times 14\times 4}{100}\\\\11700=P(1+\dfrac{14\times 4}{100})\\\\P=\dfrac{11700}{(1+\dfrac{14\times 4}{100})}\\\\P=7500$

So, the amount of loan he borrowed is 7500. So, the correct option is (C).

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Simple interest

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