Question

Mrs. Joshi borrowed a sum of money from a bank at 12% p.a. simple interest. If she paid an interest of Rs.1920 in 2 years find the sum borrowed by her​

Answer 1

maybe this is a answer!!!

Simple Interest = (Principal * Rate * Time) / 100

Principal = Sum borrowed

Rate = 12% p.a.

Time = 2 years

Simple Interest = Rs.1920

we get:

1920 = (Principal * 12 * 2) / 100

Simplifying this equation, we get:

1920 * 100 = Principal * 12 * 2

192000 = Principal * 24

Principal = 192000 / 24

Principal = 8000

Therefore, Mrs. Joshi borrowed Rs.8000 from the bank.