Question

bharat borrows a certain sum of money at 5% p.a.. If he pays 2000 as simple interest at the end of the first year, find the sum he borrowed​

Answer 1

SI = ₹2000

R=5%

T=1 year

SI=(P×R×T)/100

2000=(P×5×1)/100

P=(2000×100)/5

P = ₹40,000

Bharat had borrowed ₹40,000/-