The interest on a certain loan amount for 8 years at 4% is Rs. 1200. What was the loan amount
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Interest = P×R×T/100
=1200×4×8/100
=384
Amount = Interest + Principal
=384+1200
=1584
Thus the interest is ₹384 and the loan amount is ₹1584
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Given- Interest amount, I.e., the principal amount a given which is INR 1200.
Time period (n)- 8 years
Rate of interest (r)- 4
To find- we have to find the amount.
Solution- We know that
SI = P×n×r/100 = 1200x8×4/100 = INR 384.
Total amount = SI+ Principal = INR (384+ 1200) = INR 1584
Hence, the total loan amount is INR 1584.
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