Question

Shanta borrowed ₹6000 from the State Bank of India for 3 years 8 months at 12% p. a. what amount will clear offher debt.​

Answer 1

Given principal = 6000 Rs

Time = 3 years 8 month =

3

11

years.

Rate = 12% per annum

We know simple interest =

100

PRT

SI=

100

6000×12

×

3

11

SI=24×11=2640

SI=2640Rs

Now amount = principal + SI

= 6000+2640

[ amount = 8640 Rs]

∴ 8640 Rs is that amount which will clear off her debt.