Reema borrowed a sum of 352000 from a moneylender at the rate of 14% simple interest per annum on 3 January 2010. What amount would she have to pay back on 16 July 2010?
remember that answer should be 55889.31
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Reema took a loan of Rs.8000 from a money lender, who charged interest at the rate of 18% per annum. After 2 years, Reema paid him Rs.10400 and wrist watch to clear the debt. What is the price of the watch? (in Rs)
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Correct option is A)
Principal amount (P) = Rs 8,000
Rate of interest (R) = 18%
Time period (T) = 2 years
Interest after 2 years - =
100
P×R×T
=
100
8000×18×2
= Rs 2,880
Total amount payable by Reema after 2 years = Rs 8,000 + Rs 2,880 = Rs 10,880
Amount paid = Rs 10,400
Value of the watch = Rs 10,880 - Rs 10,400 = Rs 480
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