If ramesh gives an interest of 1400 for 1 year at 10% p.
a. What is the sum he has borrowed?
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Solution :
Given simple interest ( I ) = Rs1400
Time ( T ) = 1 year
Rate of interest ( R ) = 10%
Let Principal = P
We know that ,
( PTR )/100 = I
=> P = ( 100 × I )/TR
=> P = ( 100 × 1400 )/( 1 × 10 )
= Rs 14000
Therefore ,
Sum borrowed ( P ) = Rs 14000
••••
Given simple interest ( I ) = Rs1400
Time ( T ) = 1 year
Rate of interest ( R ) = 10%
Let Principal = P
We know that ,
( PTR )/100 = I
=> P = ( 100 × I )/TR
=> P = ( 100 × 1400 )/( 1 × 10 )
= Rs 14000
Therefore ,
Sum borrowed ( P ) = Rs 14000
••••
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