Question

Bhupendra borrowed Rs $6300$ for a period of $2$
year $8$ months at $7\%$ rate of interest per
annum. Find out how much amount he has
to repay?

• A. $9515$
• B. $7476$
• C. $8798$
• D. $3213$

Answer 1

The correct option is B $7476$

$SI=\frac{p\times r\times t}{100}$

$=\frac{6300\times 7}{100}\times \left(2\frac{8}{12}\right)$

$=\frac{6300\times 7}{100}\times \left(\frac{8}{12}\right)$

$=21\times 56=1176$

Total amount of apy $=6300+1176$

$=7476$