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Question

Surekha took a loan from yusuf at the rate of 6per annum SI. She returned Rs. 7,000 to yusuf after 2 years. Find the amount she took as loan.

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Solution

Surekha took loan at rate of 6%
interest for 2nd year =6×2=12%
Payment of the loan =Rs7000
A=Rs7000
R=6%
time =2year
7000=p(1+(0.06)(2))7000=p(1.12)p=Rs6250
surekha took of loan Rs6250

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