5. Fakira takes a loan of ₹ 6500 from a friend at the rate of 3% per annum interest. He repays the loan within 6 months. How much amount will he pay along with interest to his friend?
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Answer:
₹ 6597.5
Step-by-step explanation:
So for solving this sum,
We need to find the Simple Interest first.
Simple Interest = P*T*R/100 ( 6 months = 0.5 years)
=> 6500 × 0.5 × 3/ 100
=> 97.5
So, the Simple Interest = ₹ 97.5
Therefore, the total money Fakira has to pay = Principal Amount + Simple Interest
=> 6500 + 97.5
=> ₹ 6597.5
Therefore, Fakira has to pay ₹ 6597.5 to his friend.
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