Question

38. Mini borrowed Rs. 7500 from the State Bank of India for 3 years. She
paid an amount of Rs.9300 at the end of the period. How much rate of
interest did the bank charge her?​

Answer 1

Step-by-step explanation:

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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