Anjali took a loan for opening her boutique from a bank. If the bank gave her the loan at the rate of 6%, find the interest and the principal borrowed if she paid back 106000 bank after 5 years.
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6
Answer:
P= 81538.46
Interest = 24561.54
Step-by-step explanation:
Let principal = p
Amount is given as ₹ 106000
Time=5 yr
Rate= 6%
we know that Amount can be written as
A= P+S.I
So we can write as
106000= p+[ p×6×5]/ 100
106000 = p+ 30p/100
106000= 130p/100
106000×10/13= p
p= ₹ 81538.46
Interest = A-P
106000-81538.46 = ₹24561.54
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