A borrowed a loan from B at 6% p.a. simple interest for 2 years and repaid the loan amount Rs.48,832 with interest. The amount of loan taken by A (in Rs.) is:
Answer & explanation
Correct answer: option 3
Total interest for 2 years = 6% x 2 = 12%
Therefore,
Amount = 112% of principal
⇒ Principal = \(\frac{48832 × 100}{112}\)
= ₨. 43600