Question

1. Shanta borrowed ₹ 6000 from the State Bank of India for 3 years 8 months at 12% per annum. What amount will clear off her debt?

Answer 1

Answer:Given principal = 6000 Rs

Time = 3 years 8 month =  

3

11

​  

 years.

Rate = 12% per annum

We know simple interest =  

100

PRT

​  

 

SI=  

100

6000×12

​  

×  

3

11

​  

 

SI=24×11=2640

SI=2640Rs

Now amount = principal + SI

= 6000+2640

[ amount = 8640 Rs]

∴ 8640 Rs is that amount which will clear off her debt

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