A man needs money for 120 days. He asked the banker for a loan and the banker charged Tk. 360 @ 6% per annum. What is the amount of loan?

A man needs money for 120 days. He asked the banker for a loan and the banker charged Tk. 360 @ 6% per annum. What is the amount of loan? Correct Answer Tk. 18000

Pnr = 360P × (120/360) × (6/100) = 360P × 2 = 360 × 100P = 180 × 100P = 18000
Bissoy MCQ

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