Question

Jack borrowed Rs7500 for 3 years at 8 1/2%. How much should he pay to clear the debt?​

Answer 1

Answer:

191750 if you are calculating simple interest

Step-by-step explanation:

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Answer 2

Explanation:

Amita borrowed ( Principal ) = 7500

Rate = 8%

Time = 3 years

She lent it to Anju,

Rate = 12%

Time = 3 years

Concept used:

Simple interest = (Principal × Rate × Time)/100

Calculations:

Simple interest in 3 years

⇒ (7500 × 12 × 3)/100 – (7500 × 8 × 3)/100

⇒ 2700 – 1800 = 900

Profit in 3 years = Rs. 900

∴ The profit is Rs. 900