Ramesh borrowed some money from a moneylender to buy a new TV set. if her paid an interest of RS.2000 at the end of 2 years at the rate of 5% per annum, how much did he borrow
pls say the correct answer with explanation
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Answer:
RS.20000
Step-by-step explanation:
In simple interest:-
Interest = P * R * T/100
2000 = P * 5 * 2/100
2000 = P * 10/100
2000 = P * 1/10
2000 = P/10
2000 * 10 = P
20000 = P
Hence, The amount is RS.20000
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