Q

# Raju took a loan at 8% per annum simple interest for a period of 5 years. At the end of five years he paid Rs.10640 to clear his loan. How much loan did he take?

Raju took a loan at 8% per annum simple interest for a period of 5 years. At the end of five years he paid Rs.10640 to clear his loan. How much loan did he take?

• Option 1)

Rs.7800

• Option 2)

Rs.8000

• Option 3)

Rs.7700

• Option 4)

Rs.7600

• Option 5)

Rs.8500

Views

Because S.I is always equal in every year , so in 5 years with 8 % rate S.I 40 % of P

Amount is 40 % of P

Amount is 140 %  of P so , p is $(\frac{10640}{140}) \times 100 = 7600$

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