Given: Principal, P = ₹10,000 Rate of interest, R = 11 % Time period, T = 3 years We know that simple interest,S.I=P×R×T100
⇒S.I=10,000×11×3100=₹3300
⇒Amount to be paid = P + S.I=10,000+3,300=₹13,300
Find the amount of loan to be paid back if the sum borrowed is ₹10,000, at the rate of 11% p.a. simple interest for 3 years.
The amount of loan to be paid back if the borrowed sum is ₹ 10,000 , at a rate of 11% interest per annum under simple interest for a period of 3 years will be equal to
A milkman borrowed ₹ 2500 at simple interest from two money lenders. For one loan, he paid 5% p.a. and for the other, he paid 7% p.a. The total interest paid after two years was ₹275. Calculate the money he borrowed at 7% interest?