Question
A man borrowed money at a 22% per annum simple interest. If
he paid Rs. 10,450 after 36 months to clear his debt, how much did he originally borrow?Solution
ATQ,
Let the borrowed amount be Rs βxβ.
ATQ;
(10450 β x) = (x Γ 22 Γ 36) Γ· (100 Γ 12)
Or, (10450 β x) = (33x/50)
Or, 10450 = {(33x/50) + x}
Or, 10450 = (83x/50)
So, x = 6300
Therefore, the amount borrowed was Rs. 6,300.
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