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.
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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
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