Question

14. A person borrowed Rs 600 at the rate of 5% per annum simple interest.
What amount will he pay to clear the debt after 4 years ?
5 AC​

Answer 1

Your Answer :

Given :

Principal Amount ( borrowed Amount ) = Rs 600

Rate = 5 %

Time = 4 years

Required to find :

1. simple interest
2. Amount needed to be repaid

Solution :

1.

In the question it is given that a person borrowed Rs 600 at a rate of 5% per annum ( annum means yearly )

He told us to find the simple interest and Amount needed to be repaid .

We can find the simple interest using a simple formula.

Here is the Formula;

$\bf{Simple\:Interest\:= \frac{PTR}{100}}$

Here ,

P = principal amount

T = Time period

R = Rate of Interest ( in %)

Now, coming to the question

Substitute their respective values

Therefore,

Simple Interest = 600 × 5 × 4 / 100

= 12000/100

= Rs 120

Hence, Simple Interest = Rs 120

2.

Amount needed to be repaid = principal amount + simple interest

Amount = 600 + 120

= Rs 720

Answer 2

Answer:

720

Step-by-step explanation:

Principal Amount ( borrowed Amount ) = Rs 600

Rate = 5 %

Time = 4 years

Required to find :

simple interest

Amount needed to be repaid

Solution :

1.

In the question it is given that a person borrowed Rs 600 at a rate of 5% per annum ( annum means yearly )

He told us to find the simple interest and Amount needed to be repaid .

We can find the simple interest using a simple formula.

Here is the Formula;

Here ,

P = principal amount

T = Time period

R = Rate of Interest ( in %)

Now, coming to the question

Substitute their respective values

Therefore,

Simple Interest = 600 × 5 × 4 / 100

= 12000/100

= Rs 120

Hence, Simple Interest = Rs 120

2.

Amount needed to be repaid = principal amount + simple interest

Amount = 600 + 120

= Rs 720