1.

Nalini borrowed Rs 550 from her friend at 8% per annum. She returned the amount after 6 months. How much did she pay?

Answer»

Given Principal amount P = Rs 550

Time period T = ½ year

Rate of interest R = 8% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (550 × ½ × 8)/100

= Rs 22

Total amount paid after ½ year = Principal amount + Interest

= Rs 550 + Rs 22

= Rs 572



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