Anil borrowed some money from a money lender at 15+ p.a. simple interest. After 3 years, he paid Rs7250 and settled the account. What sum did he borrow?

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Solution

Dear Student,

$R a t e o f I n t e r e s t = 15 % T i m e = 3 y e a r s A m o u n t a f t e r 3 y e a r s = R s 7, 250 S . I . = \frac{p \times r \times t}{100} 7250 - p = \frac{p \times 15 \times 3}{100} 7250 - p = \frac{p \times 9}{20} 7250 \times 20 - 20 p = 9 p 145000 = 29 p p = \frac{145000}{29} = R s . 5, 000 H e n c e, A n i l b o r r o w e d R s . 5, 000$
Regards

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Anil borrowed some money from a money lender at 15+ p.a. simple interest. After 3 years, he paid Rs7250 and settled the account. What sum did he borrow?

Dear Student, Rate of Interest = 15%Time = 3 yearsAmount after 3 years = Rs 7,250S.I. = p×r×t1007250-p = p×15×31007250-p=p×9207250×20-20p=9p145000=29pp=14500029= Rs. 5,000Hence, Anil borrowed Rs. 5,000 Regards