Question
A borrowed Rs. 5000 from B for his business. How much
amount A will return to B at the end of 30 months such that the sum was borrowed at simple interest of 20% p.a.?Solution
Amount to be returned by A = {(5000 Ă— 0.2 Ă— 30)/12} + 5000 = 2500 + 5000 = Rs. 7500
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