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  • 24. 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?<

24. 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


Answers (1)

best_answer

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 $\mathrm{P}$ so, $\mathrm{p}$ is $(10640 / 140) \times 100=7600$

 

Posted by

shivangi.shekhar

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