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A certain sum of money is borrowed by ankit at 5 percent per annum for 10 years. If he pays an interest of rupees 200, then the total amount paid by ankit.
- a)450
- b)500
- c)600
- d)650
- e)None of these
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
A certain sum of money is borrowed by ankit at 5 percent per annum for...
Answer – c) 600 Explanation : 200 = p*(5/100)*10, we get P = 400 so total amount = 400+200 = 600
Most Upvoted Answer
A certain sum of money is borrowed by ankit at 5 percent per annum for...
Given information:
- Rate of interest = 5% per annum
- Time period = 10 years
- Interest paid by Ankit = Rs. 200
To find:
- Total amount paid by Ankit
Solution:
We know that the formula to calculate simple interest is:
Simple Interest = (Principal * Rate * Time) / 100
Let's assume the principal amount borrowed by Ankit is P.
Using the given information, we can write the equation for simple interest as:
200 = (P * 5 * 10) / 100
Simplifying the equation:
200 = (P * 50) / 100
Cross multiplying:
200 * 100 = P * 50
20000 = 50P
Dividing both sides by 50:
P = 400
Therefore, the principal amount borrowed by Ankit is Rs. 400.
Now, to find the total amount paid by Ankit, we need to add the principal amount and the interest paid.
Total amount paid by Ankit = Principal + Interest
= Rs. 400 + Rs. 200
= Rs. 600
Hence, the correct answer is option C) Rs. 600.
- Rate of interest = 5% per annum
- Time period = 10 years
- Interest paid by Ankit = Rs. 200
To find:
- Total amount paid by Ankit
Solution:
We know that the formula to calculate simple interest is:
Simple Interest = (Principal * Rate * Time) / 100
Let's assume the principal amount borrowed by Ankit is P.
Using the given information, we can write the equation for simple interest as:
200 = (P * 5 * 10) / 100
Simplifying the equation:
200 = (P * 50) / 100
Cross multiplying:
200 * 100 = P * 50
20000 = 50P
Dividing both sides by 50:
P = 400
Therefore, the principal amount borrowed by Ankit is Rs. 400.
Now, to find the total amount paid by Ankit, we need to add the principal amount and the interest paid.
Total amount paid by Ankit = Principal + Interest
= Rs. 400 + Rs. 200
= Rs. 600
Hence, the correct answer is option C) Rs. 600.
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A certain sum of money is borrowed by ankit at 5 percent per annum for 10 years. If he pays an interest of rupees 200, then the total amount paid by ankit.a)450b)500c)600d)650e)None of theseCorrect answer is option 'C'. Can you explain this answer?
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