A borrowed a loan from B at 8% p.a. simple interest for 4 years and repaid the loan amount Rs.43560 with interest. The amount of loan taken by A (in Rs.) is:
Answer & explanation
Correct answer: option 3
Total interest for 4 years = 8% x 4 = 32%
Therefore,
Amount = 132% of principal
⇒ Principal = \(\frac{43560 × 100}{132}\)
= ₨.33000