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 Tk. 15000
B Tk. 16000
C Tk. 18000
D None of these

Correct Answer: Tk. 18000

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

Related Questions

Next steps