Question

2. Sanyam has borrowed 22,800 from his friend at 4% per annum for 3 months. How much should he pay to clear off his debt?​

Answer 1

Step-by-step explanation:

364.8 rupees is your answer

The formula for finding simple intrest is

$\frac{principle \times rate\% \times time }{100}$

According to Question

Rate of interest (R) = 4%

Time in years (T) = $\frac{1}{4}$

Principal (P) = 22,800

According to the formulae

$\frac{22800 \times 4\times 1}{100 \times 4} = 364.8\: rupees$

So simple intrest = 10 rupees

Related formulas

Principal =

$\frac{intrest \times 100}{rate\% \times time \: period}$

Rate =

$\frac{intrest \times 100}{principal \times time}$

Time =

$\frac{intrest \times 100}{principal \times rate}$

Amount= Principal + Simple intrest