Question

Radhe borrowed 10950 Rs. at the rate of 8% per annum for 220 days. Find the amount she paid.
1. 528 Rs.
2. 12000  Rs.
3. 11500  Rs.
4. 11478  Rs.

Answer 1

Correct Answer - Option 4 : 11478  Rs.

Given:

Principle = 10950 Rs.

Rate = 8%

time = 220 days

Formula used:

Amount =  P + SI

SI = (P x R x T)/100,
Where P = Principal, R = Rate of Interest, T = Time Period of the Loan/deposit in years, SI = Simple Interest

Calculations:

SI = (10950 × 8 × 220)/(365 × 100)

⇒ SI = 528 Rs.

⇒ Amount = 528 + 10950

⇒ Amount = 11478 Rs.

∴ The amount is Rs.11478