Question

Vijaya borrowed a certain sum of money from her friend. At the end of 4 years,
at a rate of interest of 3% pa, she returned 9.520 to her friend. Find the sum of
money Vijaya borrowed from her friend.​

Answer 1

Answer:

₹8500

Step-by-step explanation:

Given,

T= 4 years

R = 3%

A = ₹9520

I = PTR/100

= Px 4 x 3/100

= 0.12P

A= P + 1

9520 = P + 0.12P

9520 = 1.12P

P = 9520 / 1.12

P = ₹8500

The sum of money Vijaya borrowed from her friend is ₹8500