If a farmer paid rupees 2025 as interest over 3 years at 2% per annum to a money lender how much loan had the farmer taken

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Solution

Given that,

Principle Amount = P = ?

Rate of Interest = R = 2%

Time = T = 3 years.

Simple Interest = SI = Rs. 2025

So:

Simple Interest = SI = P x R x T /100

2025 = P x 2 x 3/100

6P = 202500

P = 202500/6 = Rs. 33750.

Ans: Rs. 33750.

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If a farmer paid rupees 2025 as interest over 3 years at 2% per annum to a money lender how much loan had the farmer taken

Given that, Principle Amount = P = ? Rate of Interest = R = 2% Time = T = 3 years. Simple Interest = SI = Rs. 2025 So: Simple Interest = SI = P x R x T /100 2025 = P x 2 x 3/100 6P = 202500 P = 202500/6 = Rs. 33750. Ans: Rs. 33750.

Given that,

Principle Amount = P = ?

Rate of Interest = R = 2%

Time = T = 3 years.

Simple Interest = SI = Rs. 2025

So:

Simple Interest = SI = P x R x T /100

2025 = P x 2 x 3/100

6P = 202500

P = 202500/6 = Rs. 33750.

Ans: Rs. 33750.