Prem Avtar borrowed some money from a money lender at 25% p.a. simple interest.After 3 years, he paid Rs 4,620 and settled the account. What sum did he borrow?

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Solution

Let $P =$ Rs. $x$

$A =$ Rs. $4620$

$r = 25 %$ p.a

$t = 3$ years

$S . I . = \frac{P t r}{100} = \frac{x \times 3 \times 25}{100} =$ Rs. $\frac{3 x}{4}$

$∴ A = P + S 1 =$ Rs. $(\frac{3 x}{4} + x) =$ Rs. $\frac{7 x}{4}$

or, $4620 = \frac{7 x}{4}$

or, $x = \frac{4 \times 4620}{7} = 2640$

$∴$ Principal $=$ Rs. $2640$ .

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Prem Avtar borrowed some money from a money lender at 25% p.a. simple interest.After 3 years, he paid Rs 4,620 and settled the account. What sum did he borrow?

Let P= Rs. xA=Rs. 4620r=25% p.at=3 yearsS.I.=Ptr100=x×3×25100=Rs. 3x4∴A=P+S1=Rs. (3x4+x)=Rs. 7x4or, 4620=7x4or, x=4×46207=2640∴ Principal=Rs. 2640.