Question
A borrowed Rs. 9500 from B for his business. How much
amount A will return to B at the end of 24 months such that the sum was borrowed at simple interest of 20% p.a.?Solution
Amount to be returned by A = {(9500 × 0.20 × 24)/12} + 9500 = 3800 + 9500 = Rs. 13300
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