Question

Kabir paid Rs. 9600 as interest on a loan he took 5 years ago at 16% rate of simple interest. What was the amount he took as loan?​

Answer 1

Step-by-step explanation:

Let the principal be x

Interest = Rs.9600

Rate of interest = 16%

Time = 5 years

SI=\frac{ P \times R \times T}{100}SI=

100

P×R×T

9600=\frac{x \times 5 \times 16}{100}9600=

100

x×5×16

\frac{960000}{5 \times 16}= x

5×16

960000

=x

12000 =x

Hence he took Rs.12000 as loan