Simple Interest Practice Test 2

Question : 20 of 40

Marks: +1, -0

Ramesh’s brother took a loan from a bank at the rate of 13% per annum simple interest. After 2 years, he had to pay Rs 6,500 interest. What was the principal amount borrowed by them?

Rs 25,000
Rs 28,000
Rs 25,200
Rs 23,000
Rs 30,000

Validate

Solution:

Principal

={100×SI}/{R×T}

={100×6500}/{13×2}=25000

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