Question

mrs sharma borrowed ₹40000 from mr desai for 7/2 year at the rate of 10% per annum what amount mr sharma paid to clear his debit
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Answer 1

Answer:

The total amount paid by Mr. Sharma to clear his debt is ₹54000.

Step-by-step explanation:

Amount borrowed by Mr. Sharma = ₹40000

Time for which the amount is borrowed = 7/2 years = 3.5 years

Rate of Interest per annum = 10%

∴ Interest for the 1st year = 10% of ₹40000 = (10/100) × 40000 = ₹4000

∴ Interest for the 3 years = ₹4000 × 3 = ₹12000

∴ Interest for the 0.5 year = ₹4000 ÷ 0.5 = ₹2000

∴ Interest for the 3.5 years = ₹12000 + ₹2000 = ₹14000

Hence, total amount paid by Mr. Sharma to clear his debt is =

₹40000 + ₹14000 = ₹54000.