Question

A farmer borrowed 4,800 for his son's marriage and repaid the loan after 3 years. If simple interest at the rate of 25/4% was charged, what additional amount had he to pay?​

Answer 1

Answer:

900

Step-by-step explanation:

4800×3×25 = 12×3×25 = 900

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4

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100

Answer 2

Answer:

The farmer will have to pay an additional amount of Rs 900.

Step-by-step explanation:

Given: P = Rs 4800 , R = 25/4 % = 6.25% and T = 3 years

w.k.t, Simple interest = (P × R × T) / 100

⇒ Simple interest = (4800 × 6.25 × 3) / 100

⇒ Simple interest = 48 × 6.25 × 3

⇒ Simple interest = 900

⇒ Total amount = 4800+900

⇒ Total amount = Rs 5700

So, the farmer will have to pay an additional amount of Rs 900.