SOLUTION: a person took a loan from a bank at 4.5% p.a. simple interest for 5 years at the time of repayment he had to pay Rs.1755.00 as interest. Find the amount of the loan.

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Question 1038790: a person took a loan from a bank at 4.5% p.a. simple interest for 5 years at the time of repayment he had to pay Rs.1755.00 as interest. Find the amount of the loan.
Answer by jorel555(1290) About Me  (Show Source):
You can put this solution on YOUR website!
1755 interest/5 years=351 per year
.045n=351
n=351/.045=7800 Rs. as the amount of the original loan!!!!!!!!!!!!!