Question

Ramya borrowed a loan from a bank for buying a computer.After 4 years
she paid 26,640 and settled the accounts .If the rate of interest is 12% per annum ,what was the sum she borrowed

Answer 1

first find 12 % of total amount
12/100×26640
3196.8
it is the interest for first year
for 4 years 3196.8×4
12787.2
amount borrowed
total -interst
26640-12787
13853