ganeskar took a loan from bank ata the rate of 15 % p.a., simple intrest ,after 3 years he had to pat rupees 9000 intrest only for the period , what is the principle amount borrowed by him
Question
ganeskar took a loan from bank ata the rate of 15 % p.a., simple intrest ,after 3 years he had to pat rupees 9000 intrest only for the period , what is the principle amount borrowed by him
Solution
The formula for simple interest is I = PRT, where I is the interest, P is the principal amount, R is the rate of interest, and T is the time.
In this case, we know that the interest (I) is 9000 rupees, the rate of interest (R) is 15% or 0.15, and the time (T) is 3 years. We need to find the principal amount (P).
So, we rearrange the formula to solve for P:
P = I / (RT)
Substituting the given values:
P = 9000 / (0.15 * 3)
P = 9000 / 0.45
P = 20000 rupees
So, the principal amount borrowed by Ganeskar is 20000 rupees.
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