Question

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

Answer 1

first we have to convert time in years

6 months is half year so time= 3.5 year

now here we have given simple intrest

so, I=PRT/100

I= 18000×7×3.5/100

I= 4410

A=P+I

A= 18000+4410

A=22410rs

he paid 22410rs altogether after 3.5 years