Vedika wants to purchase a necklace which costs ₹25000. But she only has ₹21000 with her. She borrows the remaining amount from Manish at simple interest of 3% p.a. for 3 months. Find the loss Vedika incurred owing to the interest given to Manish.

₹20

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₹30

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₹40

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₹50

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Solution

The correct option is B ₹30
Amount Vedika borrows from Manish = ₹25000 - ₹21000
= ₹4000
Interest paid to Manish $= \frac{P R T}{100}$
$= \frac{4000 \times 3 \times \frac{1}{4}}{100}$
$= ₹ 30$

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Vedika wants to purchase a necklace which costs ₹25000. But she only has ₹21000 with her. She borrows the remaining amount from Manish at simple interest of 3% p.a. for 3 months. Find the loss Vedika incurred owing to the interest given to Manish.

The correct option is B ₹30Amount Vedika borrows from Manish = ₹25000 - ₹21000 = ₹4000 Interest paid to Manish =PRT100 =4000×3×14100 =₹30

The correct option is B ₹30
Amount Vedika borrows from Manish = ₹25000 - ₹21000
= ₹4000
Interest paid to Manish $= \frac{P R T}{100}$
$= \frac{4000 \times 3 \times \frac{1}{4}}{100}$
$= ₹ 30$