Mr sharma borrowed some money from a friend at the interest rate of 8% per annum. He repaid his debt by paying rs 16800 at the end of 5 years. How much did he borrow?

Asked by Khushbooshivhare | 26th Dec, 2018, 02:40: PM

Expert Answer:

r = 8% p.a., A = Rs. 16800, n = 5 years
Let Mr. Sharma borrowed Rs. x from a friend.
Considering this is at simple interest.
Simple interest = Pnr/100 = x × 5 × 8/100 = Rs. 40x/100
Amount = 16800
40x/100 + x = 16800
x × 140/100 = 16800
x = Rs. 12,000
Mr. Sharma borrowed Rs. 12000 from a friend.

Answered by Sneha shidid | 28th Dec, 2018, 09:25: AM

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