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A man borrowed Rs. 12500 at a simple interest of 8% per annum for 1 year and 73 days. How much amount did he pay to clear his debt?1). Rs. 135002). Rs. 137003). Rs. 142504). Rs. 14500 |
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Answer» Time = 1 + 73/365 = 1 + 1/5 = 6/5 yrs. Now, Simple INTEREST = (Principal × RATE × time)/100 = (12500 × 8 × 6/5)/100 = Rs. 1200 ∴ Amount paid to clear DEBT = 12500 + 1200 = Rs. 13700 |
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