Question

Mahesh took a loan of Rs $25,000$ of the rate of simple interest of $6\%$ per year. what is the total amount paid by Mahesh after one year?

Answer 1

Given, Mahesh took a loan of Rs $25,000$ of the rate of simple interest of $6\%$ per amount.

Then interest to be paid after one year is $\frac{25,000\times 6\times 1}{100}=1,500$.

Now, after one year Mahesh has to pay Rs.$25,000+1,500=26,500$.