Manorama took a loan of Rs 75,000 at 9.25% simple interest per annum for 8 months.
Find the interest and also the amount Manorama has to pay at the end of 8 months.
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P = 75000
R = 9.25%
T = 8/12 = 2/3 Yr.
S.I = (75000 × 9.25 × 2) / (100 × 3)
S.I = Rs. 4625
Amount to be returned = Principal + S.I
= 75000 + 4625
= Rs. 79625
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