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?
Answers
Answered by
2
Answer:
900
Step-by-step explanation:
4800×3×25 = 12×3×25 = 900
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4
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100
Answered by
8
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.
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