Question

Mr.mehta borrowed a sum of money at 8% per annum if he paid rs 640 as interest after 16/3 years find the sum borrowed by him

Answer 1

Given :

Rate of Interest = 8 %

Time = 16/3 years (5 Years 4 Months)

S.I = 640

To Find : Sum borrowed by him P = ?

Proof:

We have Simple Interest formula

S.I = Principal X Interest Rate X Time

    __________________________

                           100

=>640 = P X (8/100) X (16/3)

             _______________

                       100

=>640 = P X (8/100) X (16/3)

=> P = 640 X 100 X 3                            

         _____________

                 8 X 16

=> P = 80 X 100 X 3

         ___________

                 16

=> P = 5 X 100 X 3

=> P = 1500.

Hence the sum borrowed is P = 1500Rs.

     

Answer 2

RS 1500 principle

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