Go To Your Study Dashboard

Get Answers to all your Questions

header-bg

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 8500

Option 2)

Rs 8000

Option 3)

Rs 7700

Option 4)

Rs 7600

Option 5)

Rs 7500

Answers (1)

best_answer

Rate of interest fo 1 year = 8 percent
Rate of interest for 5 years = 8 x 5 => 40%

As per the given data,

Loan Amount x 140/100 = 10640

Loan Amount = 7600

Posted by

rishi.raj

View full answer

Similar Questions

Latest Question