Digvijay borrowed 1,500 at 5% p.a. After some time he returned 1,800 and cleared the account. For how much time did he keep the money?
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⇒ We have P=Rs.1500,T=4years and R=5%
⇒ We need to calculate total amount paid by person after 4 years = Principal+SimpleInterest
⇒ P+ P×R×T/100
⇒ 1500+ 1500×5×4/100
⇒ 1500+300=Rs.1800
∴ Toatal amount paid by person after 4 years is Rs.1800
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