Multiple choice

Bhupendra borrowed Rs $6300$ for a period of $2$ year $8$ months at $7\% $ rate of interest per annum. Find out how much amount he has to repay?

  1. $9515$
  2. $7476$
  3. $8798$
  4. $3213$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Time = 2 years 8 months = 2 + 8/12 = 2 + 2/3 = 8/3 years. Simple Interest = (6300 * 7 * 8/3) / 100 = 63 * 7 * 8 / 3 = 21 * 7 * 8 = 1176. Amount = 6300 + 1176 = 7476.

Keep practicing — related questions