Question

A man borrowed 18000 from his friend at 7% per annum simple interest he returned the money after 3 year 6 months how much money did he pay back altogether.​

Answer 1

Answer:

Total Amount = Rs 22410

Step-by-step explanation:

Given,

P = 18000

Rate = 7% per annum

Time =  3$\frac{1}{2}$ year = 3.5 year

Total money to be returned = Initial Amount + S.I = P + S.I

S.I = P*R*T/100 = 18000*7*3.5/100 = Rs 4410                    

So, Total Amount = 18000 + 4410 = Rs 22410