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) ___ .

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Solution

Simple Interest = $\frac{P R T}{100}$

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 = 5000 + 750 = Rs. 5750

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