Mehta borrowed a sum of money at 8% per annum. If he paid 640 as interest after
years (5 years 4 months) find the sum borrowed by him.
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Answer:
Rs.2140
Step-by-step explanation:
Interest = Rs640
Rate of percent = 8%
Time = 5 years 4 months
Principle = (100×Interest) ÷ (Rate×Time)
=(100×640) ÷ (8×{5×12+4}
=Rs.1500
Prinipal = Rs.1500
Interest = Rs.640
Amount = Principal+Interest
=1500+640
= Rs.2140
Hence, the answer is Rs.2140
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