Question

Anitha borrowed Rs.$400$ from her friend at the rate of $12\%$ per annum for $2.5$ years.Find the interest and amount paid by her.

Answer 1

Here $P=Rs.400,R=12\%$ per annum and $T=2.5$ years

Simple interest$=\frac{PRT}{100}=\frac{400\times 12\times 2.5}{100}=4\times 12\times 2.5=$Rs.$120$

Amount paid by her$=P+I=400+120=$Rs.$520$