give solution

Question

MR John who had taken a house building loan at 11.5% p.a simple interest pays 299000 as interest when he repays the loan after 4 year.How much money had MR John taken as loan.

Answer 1

S.I = PRT / 100

 

Given

 

R= 11.5%

S.I = 299,000

T= 4

 

299,000 = P*11.5 * 4 /100

 

299,000*100 / 11.5 * 4 = P

 

650,000 =P

 

So he took 650,000  as loan