Mr Irani borrowed a sum of Rs 10000 from a finance company for 6 years at 8% per annum. The amount returned by Mr Irani to the finance company is:

Rs 14800

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Rs 12600

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Rs 13300

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Rs 12350

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None of the above

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Solution

The correct option is A Rs 14800
We have, P =Rs 10000, R =8% per annum, T =6 years.
$∴ I = \frac{P \times R \times T}{100} = \frac{10000 \times 8 \times 6}{100} = R s 4800 ∴ A = P + I = 10000 + 48000 = R s 14800$
Thus, Mr Irani returned Rs 14800 to the finance company.

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Mr Irani borrowed a sum of Rs 10000 from a finance company for 6 years at 8% per annum. The amount returned by Mr Irani to the finance company is:

The correct option is A Rs 14800We have, P =Rs 10000, R =8% per annum, T =6 years. ∴I=P×R×T100=10000×8×6100=Rs4800∴A=P+I=10000+48000=Rs14800 Thus, Mr Irani returned Rs 14800 to the finance company.

The correct option is A Rs 14800
We have, P =Rs 10000, R =8% per annum, T =6 years.
$∴ I = \frac{P \times R \times T}{100} = \frac{10000 \times 8 \times 6}{100} = R s 4800 ∴ A = P + I = 10000 + 48000 = R s 14800$
Thus, Mr Irani returned Rs 14800 to the finance company.