A borrowed a loan from B at 4% p.a. simple interest for 6 years and repaid the loan amount Rs.43400 with interest. The amount of loan taken by A (in Rs.) is:
Answer & explanation
Correct answer: option 3
Total interest for 6 years = 4% x 6 = 24%
Therefore,
Amount = 124% of principal
⇒ Principal = \(\frac{43400 × 100}{124}\)
= ₨.35000