Question

Raghu borrowed a sum of ` 10,000 from Renu for 3 years. If Renu charges 8% simple

interest per annum, how much will Raghu have to pay after 3 years?

Answer 1

Hi,

Principal = P = Rs 10000

rate of interest = R = 8%

Time = T = 3years

Amount = A

A = P( 1 + TR/100 )

= 10000 [ 1 + (3 × 8 ) /100 ]

= ( 10000 × 124 ) /100

= Rs 12400

Therefore ,

at the end of the 3 years Raghu has to pay

Rs 12400

I hope this helps you.

:)