Maths-
General
Easy

Question

Arun borrowed Rs 24,000 from Rahul at the rate of 15% per annum simple interest for 4 years. Find the simple interest and the total amount that has to be paid at the end of 4 years.

hintHint:

Use the formula for simple interest and then find the total amount.

The correct answer is: 38400 Rupees


    Complete step by step solution:
    We calculate simple interest by the formula,S I equals fraction numerator P T R over denominator 100 end fraction…(i)
    where P is Principal amount, T is number of years and R is rate of interest
    Money borrowed by Arun from Rahul = P = 24000 Rs
    Here, we have T = 4,R = 15% and P = 24000
    On substituting the known values in (i), we get S I equals fraction numerator 24000 cross times 4 cross times 15 over denominator 100 end fraction

    not stretchy rightwards double arrow S I equals fraction numerator 24000 cross times 4 cross times 15 over denominator 100 end fraction equals 14400
    We have SI = 14400 Rupees.
    We know the formula for total amount = A = P + SI…(ii)
    where A is the total amount, P is the principal amount and SI is simple interest.
    On substituting the known values in (ii), we get A = 24000 + 14400 = 38400
    Hence total amount to be paid after 4 years = A = 38400 Rupees.

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