Question
If on an average, 20% rate of interest was charged on borrowed funds, then the total borrowed funds used by this company in the given 2 years amounted to
Answer: Option D
:
D
As calculated in the previous question, total interest = (39 + 64) = Rs 103 lakh
Given that, this interest is calculated on 20% of the borrowed fund.Hence, borrowed funds = (103×100)20= Rs 515 lakh.
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:
D
As calculated in the previous question, total interest = (39 + 64) = Rs 103 lakh
Given that, this interest is calculated on 20% of the borrowed fund.Hence, borrowed funds = (103×100)20= Rs 515 lakh.
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