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1-) Rohit borrowed ₹ 24000 at 7.5% per year. How much money will he pay at the end of 4 years to clear his debt ?
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Rohit borrowed Rs. 24,000 at 7.5 percent per year. How much money will he pay at the end of 4th years to clear his debt
Principal (P) = Rs. 24,000
Rate (R) = 7.5% P.A.
Time (T) = 4 Years
S.I. = (P × T × R)/100
= Rs. (24,000 × 4 × 7.5)/100
= Rs. 240 × 4 × 7.5
= 240 × 30 = Rs. 7200
Amount needed to clear the debt at the end of 4th year.
= Rs. 24000 + Rs. 7200 = Rs. 31200
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