Multiple choice

Rohit borrowed Rs. $24,000$ at $7.5$ per cent per year (simple interest). How much money will he pay at the end of $4$ years to clear his debt?

  1. Rs. $56300$
  2. Rs. $42100$
  3. Rs. $31200$
  4. Rs. $23200$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The simple interest for 4 years is calculated as 24,000 * 7.5 * 4 / 100 = Rs. 7,200. Adding this interest to the principal amount of Rs. 24,000 gives a total of Rs. 31,200 to clear the debt.

AI explanation

Using the simple interest formula, the interest is calculated as (24000 * 7.5 * 4) / 100 = Rs. 7200. Adding this interest to the principal gives the total amount to be paid to clear the debt, which is 24000 + 7200 = Rs. 31200.

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