Question

Rohit borrowed Rs. 24,000 at 7.5percent per year. How much money will he pay at the end of 4th years to clear his debt?
please answer correctly

Answer 1

Principal (P) = Rs. 24,000

Rate (R) = 7.5% P.A.

Time (T) = 4 Years

Solution:

S.I. =$\dfrac{P×R×T}{100}$

S. I= ₹$\dfrac{24,000×7.5×4}{100}$

S. I= ₹ 240 × 7.5×4

S. I= 240 × 30

S. I= Rs. 7200

Amount needed to clear the debt at the end of 4th year.

= Rs. 24000 + Rs. 7200 = Rs. 31200

Answer 2

Answer:

Principal (P) = Rs. 24,000

Rate (R) = 7.5% P.A.

Time (T) = 4 Years

Solution:

S.I. = P×R×T 100

100

P×R×T

S. I= ₹ 24,000×7.5×4 100

100

24,000×7.5×4

S. I= ₹ 240 × 7.5×4

S. I= 240 × 30

S. I= Rs. 7200

Amount needed to clear the debt at the end of 4th year.

= Rs. 24000 + Rs. 7200 = Rs. 31200