Question

Satyam took a loan of Rs. 5000 at 15% per year as rate of interest. The amount paid back by him at the end of the year is (in rupees) ___ .

Answer 1

Simple Interest = $\frac{PRT}{100}$

Principal, P = 5000

Rate of Interest, R = 15

Time, T = 1

Simple Interest = $\frac{5000\times 15\times 1}{100}$ = Rs. 750

Amount to be paid = Rs. 5000 + Rs. 750 = Rs. 5750