If an amount of $$ 640$ is borrowed at a simple rate of $15 %$ , then calcuate the final amount to be repaid after a period of 2 year (in dollars).
832

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Solution

The correct option is A 832
Given : Principal amount $(P) = $ 640$
Rate of interst $(R) = 15 %$ ,
Time $(T) = 2$ years
We know that

$S I = \frac{P \times R \times T}{100}$

$\Rightarrow S I = \frac{640 \times 15 \times 2}{100} = $ 192$

$∴$ Simple interest is $$ 192$
$∴$ Amount to be repaid $= P + S I$
$= $ 640 + $ 192 = $ 832$

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If an amount of $ 640 is borrowed at a simple rate of 15 %, then calcuate the final amount to be repaid after a period of 2 year (in dollars). 832

The correct option is A 832Given : Principal amount (P)=$ 640 Rate of interst (R)=15%, Time (T)=2 years We know that SI=P×R×T100 ⇒SI=640×15×2100=$192 ∴ Simple interest is $192 ∴ Amount to be repaid =P+SI =$ 640+$ 192=$832

If an amount of $$ 640$ is borrowed at a simple rate of $15 %$ , then calcuate the final amount to be repaid after a period of 2 year (in dollars).
832