To purchase a cow, a farmer borrowed some money at a rate of 9 p.c.p.a. interest for 3 1/2 years If he paid ? 15,750 as total interest, how much money had he borrowed
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Answer:
Rs. 20711.25 /-
Step-by-step explanation:
I = PTR/100
R = 9 %
T = 3 1/2 years = 3.5 years
P = 15750
I = 15750 x 3.5 x 9/100
I = 496125/100
I = 4961.25
Amount to be repaid = P + I
= 4961.25 + 15750
= 20711.25 Rs
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