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Question
Ram borrows Rupees 520 from Govind at a simple interest of 13% per annum. What amount of money should Ram pay to Govind after six months to be absolved of the debt?
Options
552.80
553.80
453.80
353.80
MCQ
Solution
553.80
Explanation:
SI`="PRT"/100`
where P = 520, T = 1/2, R = 13%
SI`=(520xx1xx13)/(2xx100)=33.80`
Amount to pay = 520 + 33.80 = 553.80
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Simple and Compound Interest (Entrance Exam)
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