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A cetain sum has been borrowed at 16% pe...

A cetain sum has been borrowed at 16% per annum under simple interest. If the sum amounts to Rs. 12000 in 1 year and 3 months, find the sum borrowed.

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AI Generated Solution

To find the sum borrowed (the principal), we can use the formula for the amount in simple interest: **Formula:** \[ A = P \left(1 + \frac{R \times T}{100}\right) \] Where: - \( A \) = Amount after time \( T \) - \( P \) = Principal (the sum borrowed) ...
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