Question

Mr Sharma borrowed some money from a friend at the interest rate of 8% per annum. He repaid his debt by paying 16 800 at the end of 5 years. How much did he borrow?Plz give answer don't spam ​

Answer 1

r = 8% p.a., A = Rs. 16800, n = 5 years

Let Mr. Sharma borrowed Rs. x from a friend.

Considering this is at simple interest.

Simple interest = Pnr/100 = x × 5 × 8/100 = Rs. 40x/100

Amount = 16800

40x/100 + x = 16800

x × 140/100 = 16800

x = Rs. 12,000

Mr. Sharma borrowed Rs. 12000 from a friend.

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