Question

Rohit borrowed ₹ 45,000 at the rate of 8.5 % per annum simple interest. How much money will he pay at the end of 4 years to clear his debt

• A. ₹ 65,300
• B. ₹ 60,300
• C. ₹ 70,300
• D. ₹ 75,300

Answer 1

The correct option is B

₹ 60,300

Given, P = ₹ 45,000, R = 8.5 %, p.a and T = 4 years

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

= $\frac{45,000\times 4\times 8.5}{100}$

= ₹ 15,300

Hence amount to be paid at the end of 4 years = P + I

= 45,000 + 15,300

= ₹ 60,300