Lataben borrowed some money from a bank at a rate of 10 p.c.p.a interest for 2 1/2 years to start a cottage industry.

Question

Lataben borrowed some money from a bank at a rate of 10 p.c.p.a interest for \(2\frac{1}{2}\) years to start a cottage industry. If she paid Rs 10250 as total interest, how much money had she borrowed?

Answer 1

Here, R = 10 p.c.p.a, T = 2.5 years, I = Rs 10250

∴ P = Rs 41000 

∴ Lataben had borrowed an amount of Rs 41000 from the bank.