Question

Sam borrowed 550 Rs from his friend at 8% per annum. He returned the amount after 6 months. How much did he pay?

Answer 1

given = principle= rs 550

rate of interest= 8%

time= 1/2 years

Step-by-step explanation:

the extra amount to be paid by him would be

=550 + ( $\frac{1X 8X 550}{2 X 100}$)

= 550+ 22

=RS 572, will have to be  paid by him