Question

Ram and puneet borrowed Rs 750 each, from Rakesh at
the same rate of simple
Interest.
Ram paid back Rs. 930 after 3 years. If puneet wants to
settle his account after 5
years how much money will he pay to Rakesh.​

Answer 1

The money ram and puneet borrowed from rakesh = 750

after 3 years the money = 930 - 750 = 180

so, 180 ÷3 = 60

After 5 year's the money = 60 × 5 = 300

ie, 750 + 300 = 1,050

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60 × 5 = 300