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Frans paid R9600 as interest on a loan he took 5 years ago at 16% rate. What's was the amount he took as loan? Yeah

Sagot :

japreet09hundal

Answer:

5555 Lakh rupoes maybe hope it helps

The amount Frans took as loan = R12000

What is simple interest?

"It is the interest that is only calculated on the initial amount of the loan."

Formula for simple interest:

[tex]SI=\frac{P\times R\times T}{100}[/tex]

where, P: principal amount

T : period

R: rate of interest

For given question,

SI = 9600

T = 5 years

R = 16%

We need to find the principal amount.

Using simple interest formula,

[tex]\Rightarrow SI=\frac{P\times R\times T}{100}\\\\\Rightarrow P=\frac{SI\times 100}{R\times T}\\\\\Rightarrow P=\frac{9600\times 100}{5\times 16}\\\\\Rightarrow P=12000[/tex]

Therefore, the amount Frans took as loan = R12000

Learn more about the simple interest here:

https://brainly.com/question/22621039

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