Jack borrows Rs. $1000$ from the bank. The Principal of the loan is _____.

1000

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2000

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3000

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10, 000

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Solution

The correct option is A $1000$ Rs
Amount of the money borrowed from bank is known as principal.
The value of the principal is $1000$

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Q. Say what is the principal, the interest and the period in each of the following examples:

(1) Rehmanbhai borrowed Rs 25,000 from a bank. After 3 years, he returned Rs 32,500 to the bank which included both the loan and the interest.

(2) Maniben took a loan of Rs 8000 from the Women's Co-operative Society and returned an amount of Rs 8480 to the society after six months.

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You pay Rs 54,000, via cheque as an installment of the Rs 8,00,000 loan acquired from bank. Of this amount, Rs 50,000 is applied to the principal, and Rs 4,000 is applied to the loan interest. Which of the following is correct?

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Jack borrows Rs. 1000 from the bank. The Principal of the loan is _____.

The correct option is A 1000RsAmount of the money borrowed from bank is known as principal.The value of the principal is 1000

Jack borrows Rs. $1000$ from the bank. The Principal of the loan is _____.

The correct option is A $1000$ Rs
Amount of the money borrowed from bank is known as principal.
The value of the principal is $1000$