Multiple choice

Rs 6050 is borrowed at 6.5% rate of interest p.a. Find the interest and the amount to be paid at the end of 3 years?

  1. 7229.75

  2. 7300.75

  3. 7220.75

  4. 7500
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A Correct answer
AI explanation

Using the formula for simple interest, SI equals P times R times T divided by 100, we get 6050 times 6.5 times 3 divided by 100, which equals 1179.75. The total amount to be paid is the sum of the principal and the interest, so A equals 6050 plus 1179.75, giving a total of 7229.75.

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