Question
A borrowed Rs. 7000 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 = {(7000 × 0.20 × 30)/12} + 7000 = 3500 + 7000 = Rs. 10500
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