Question

Rahul borrowed a sum of money from a money lender for which he had to pay interest at the rate of 15% p.a. he paid Rs.10400 at the end of two years to clear the loan along with interest.find the sum he borrowed.

Answer 1

Hey mate,

# Answer- Sum borrowed = Rs.8000

# Given-

Rate of interest = 15%pa

Total debt paid = Rs.10400

Time to repay = 2 years

# Solution-

Interest = Principal × interest rate × time

Interest = Principal × 15% × 2

Total debt paid = Principal + Interest

Total debt paid = Principal(1+interest rate)

10400 = Principal(1+30/100)

Principal = Rs.8000

Total amount borrowed by Rahul is Rs.8000.

Hope this helps you.

Keep asking...

Answer 2

Answer:

Given: Rate of interest (R) = 15%

Amount (A)= 10400.rs

Time(T) = 2 years

to find : principal

Step-by-step explanation:

let Principal be x

Simple interest(S.I) = R × T× P/100

S.I = 2×15×x/100

S.I= 30x/100

we know that,

Amount= S.I + Principal

10400 = 30x/100 + x

10400 = 100x+ 30x/100

10400 × 100 = 100 x + 30 x

x = 10400 × 100 / 130

x = 8000

principal = 8000 Rs