A man borrowed some money for 120 days. He asked the banker for the money and the banker charged Tk 360 as interest @6% per annum. What was the amount he borrowed?
Created: 10 months ago |
Updated: 8 months ago
best des
Here, I = 360
n = 120days = 4 months = ⅓ year
r = 6%
P = I/nr = 360/( ⅓*6/100) = 360*100*3 / 6 =18000
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