A person took a loan of rs 1500 from his employer for 3 months at 12% per annum simple interest. The amount he has to return is:
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Answer:1545
Step-by-step explanation:
There are 12months in a year... If we divide it by 3we get,4 also rate of interest is 12% therefore for 3 months it becomes 3%
Hence 1500*3/100=45
1500+45=1545
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