Question

7. Arun borrowed Rs.6,000 from his friend at 4% interest per annum for 1 and half
years. How much amount he will return after 1 and halfyear to his friend ?
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Answer 1

Answer:

6000+360

Explanation:

use the simple interest formula pnr/ 100

simple interest = 6000×4×1.5/100

=360

total amount to be repaid 6360

Answer 2

Solution!!

The concept of simple interest has to be used here. The principal, rate of interest and time is given. We have to find the amount. To do so, we have to find the interest.

Principal (P) = Rs 6000

Rate of interest (R) = 4%

Time (T) = 1 year 6 months

We know that,

12 months = 1 year

12 months + 6 months = 18 months

18 months = 18 ÷ 12 = 1.5 years

Time (T) = 1.5 years

Let's find out the interest!

Interest = (P × R × T)/100

Interest = (6000 × 4 × 1.5)/100

Interest = Rs 360

We know the interest. Now, we can find the amount.

Amount = Principal + Interest

Amount = Rs 6000 + Rs 360

Amount = Rs 6360