The amount of loan to be paid back if the borrowed sum is ₹10,000, at a rate of 11% interest per annum under simple interest for a period of 3 years will be equal to ________ .

₹13,600

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₹13,300

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₹14,600

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₹14,300

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Solution

The correct option is B
₹13,300

Using the formula I = $I = \frac{P T R}{100}$ and substituting

P = $₹ 10, 000, R = 11 %, T = 3$ years, we have

$I = \frac{10, 000 \times 11 \times 3}{100} = ₹ 3300$

Amount $= P + I = 10, 000 + 3, 300 = ₹ 13, 300$

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Q. A sum of

R s . 10, 000

is borrowed at a rate of interest

15 %

per annum for

2

years. Find the simple interest on this sum and the amount to be paid at the end of

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The amount of loan to be paid back if the borrowed sum is ₹10,000, at a rate of 11% interest per annum under simple interest for a period of 3 years will be equal to ________ .

The correct option is B ₹13,300 Using the formula I = I=PTR100 and substituting P = ₹ 10,000,R=11%,T=3 years, we have I=10,000×11×3100=₹3300 Amount =P+I=10,000+3,300=₹13,300

The correct option is B
₹13,300

Using the formula I = $I = \frac{P T R}{100}$ and substituting

P = $₹ 10, 000, R = 11 %, T = 3$ years, we have

$I = \frac{10, 000 \times 11 \times 3}{100} = ₹ 3300$

Amount $= P + I = 10, 000 + 3, 300 = ₹ 13, 300$