Question

Girishbhai lends Rs. $47,000$ to his friend Mohanbhai for $1$ year and $3$ months at the rate of $8\%$. How much would he get from Mohanbhai at the end of the term?

• A. Rs. $51,000$
• B. Rs. $51,700$
• C. Rs. $51,900$
• D. Rs. $52,700$

Answer 1

The correct option is B Rs. $51,700$

Principal=Rs. $47000$
Time$=1$ year and $3$ months
$=(1+\frac{3}{12})$ years
$=\frac{5}{4}$ years
Rate $=8$%
$\therefore$Interest$=\frac{Principal\times time\times rate}{100}$
$=\frac{47000\times \frac{5}{4}\times 8}{100}$
=Rs. $4700$
Amount=Principal+interest
=Rs.$(47000+4700)$
=Rs.$51,700$