A man borrows a certain sum of money at simple interest for 8 years at 16% per annum. If the interest paid by him is Rs. 8000, then find the sum of money he borrows?
1
Rs. 6530
2
Rs. 6250
3
Rs. 6000
4
Rs. 7800
5
Rs. 6450
A man borrows a certain sum of money at simple interest for 8 years at 16% per annum. If the interest paid by him is Rs. 8000, then find the sum of money he borrows?