Mr. Jackson wrote a check of Rs 8850 to pay off a loan, which was given to him at a rate of 6%
simple interest for 3 years. How much money did he borrow originally?
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Explanation:-
Formula- PxRxT
8850= PRT/100
8850=px3x6/100
8850x100/18= Principal Amount
Principal Amount= 49,166
Formula- PxRxT
8850= PRT/100
8850=px3x6/100
8850x100/18= Principal Amount
Principal Amount= 49,166
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