1.

Mohan took a loan at the rate of 12% pa from a bank. If after eight years he returned Rs. 12544 including the interest, what was the principal amount ?

Answer»

6400



P + SI = 12544 = P + P X 12 x 8/100
∴ 196P/100 = 12544
∴ P = 12544 x 100/196 = 6400



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