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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

     

Answers (1)
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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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