105
Question
Nandini borrowed ₹550 from her friend at 8% per annum. She returned the amount after 6 months. How much did she pay?
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Solution
Given
Principal amount, P = ₹ 550
Time period, t = ½ year
Rate of interest, r = 8% p.a.
We know that simple interest = (P × r × t)/100
On substituting these values in above equation we get
SI = (550 × ½ × 8)/100
= ₹22
Total amount paid after ½ year = Principal amount + Interest
= ₹550 + ₹22
= ₹572
Principal amount, P = ₹ 550
Time period, t = ½ year
Rate of interest, r = 8% p.a.
We know that simple interest = (P × r × t)/100
On substituting these values in above equation we get
SI = (550 × ½ × 8)/100
= ₹22
Total amount paid after ½ year = Principal amount + Interest
= ₹550 + ₹22
= ₹572
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