Discussion Forum

Ashoke borrowed some amount, after 6 years he paid Rs. 20,800/- with 10% interest, then how much Amount he borrowed ?

Answer:

Explanation:

Principal, $P$ = ?

Rate of interest, $R$ $=10\%$

Time, $T$ $=6$ years

Accumulated Amount, $A$ = Rs. $20800$/-

$A=P+I$

$A$ $=P+\frac{PTR}{100}$

$A$ $= P\left(1+\frac{TR}{100}\right)$

Rs. $20800$/- $=P\left[1+ 6\times\frac{10}{100}\right]$

Rs. $20800$/- $=P\left[\frac{1}{1} +\frac{6}{10}\right]$

Rs. $20800$/- $=P\left[10+\frac{6}{10}\right]$ $=P\left[\frac{16}{10}\right]$

Rs. $20800$/- $=P\times\frac{16}{10}$

$\Rightarrow P$ = Rs. $\frac{208000}{16}$

$\Rightarrow P$ = Rs.13000/-