Question

Abhijeet wants to buy a car but fell short of money by Rs.50,000.He borrowed the money from co-operative bank at the rate of 10% per annum.find the amount he has to return after 3 years.

Answer 1

Dear Student,

$$\begin{gathered} \mathrm{Assuming}\mathrm{that}\mathrm{he}\mathrm{borrowed}\mathrm{the}\mathrm{money}\mathrm{at}\mathrm{simple}\mathrm{interest}. \\ \mathrm{S}.\mathrm{I}=\frac{\mathrm{P}\times \mathrm{R}\times \mathrm{T}}{100} \\ =\frac{50000\times 10\times 3}{100} \\ =\mathrm{Rs}.15000 \\ \mathrm{Amount}\mathrm{to}\mathrm{return}\mathrm{after}3\mathrm{years}=50000+15000 \\ =\mathrm{Rs}.65000. \end{gathered}$$

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