Question

PE QUESTIONS)
7. A shopkeeper with an overdraft facility at 18 percent
with a bank borrowed * 15000 on Jan 8, 2011 and
returned the money on June 3, 2011 so as to clear
the debt. The amount that he paid was
(a) *16080
(b) 16280
(c) 16400
(d) None of these​

Answer 1

Answer:

option a 16080 is the answer

Answer 2

Answer:

The amount the shopkeeper has to pay is rs 16080.

Explanation:

What is Simple Interest ?

Simple interest is a quick and simple formula for figuring out how much interest will be charged on a loan. The daily interest rate, the principle, and the number of days between payments are multiplied to calculate simple interest.

Simple interest is calculated by multiplying the principal by the time, interest rate, and time period. "Simple Interest = Principal x Interest Rate x Time" is the written formula. The simplest method for computing interest is using this equation.

Total time period for which the shopkeeper borrowed the money was

= (31-8) + 28 + 31 + 30 + 31 + 3 = 146 days = $\frac{146}{365}$ years = $\frac{2}{5}$ years .

Principal Borrowed is rs. 15000

Total Amount to be paid = Principal + simple Interest

= 15000 + $\frac{15000*18*\frac{2}{5} }{100}$ = 15000 + 1080 = 16080

Option A : The amount the shopkeeper has to pay is rs 16080

To learn more about simple interest refer to :

https://brainly.in/question/33214946?referrer=searchResults

https://brainly.in/question/5674303

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