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A man borrowed Rs. 12500 at a simple interest of 8% per annum for 1 year and 73 days. How much amount did he pay to clear his debt?
  • a)
    Rs. 13500
  • b)
    Rs. 13700
  • c)
    Rs. 14250
  • d)
    Rs. 14500
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
A man borrowed Rs. 12500 at a simple interest of 8% per annum for 1 ye...
Time = 1 + 73/365 = 1 + 1/5 = 6/5 yrs.
Now,
Simple interest = (Principal × rate × time)/100 = (12500 × 8 × 6/5)/100 = Rs. 1200
∴ Amount paid to clear debt = 12500 + 1200 = Rs. 13700
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A man borrowed Rs. 12500 at a simple interest of 8% per annum for 1 year and 73 days. How much amount did he pay to clear his debt?a)Rs. 13500b)Rs. 13700c)Rs. 14250d)Rs. 14500Correct answer is option 'B'. Can you explain this answer?
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A man borrowed Rs. 12500 at a simple interest of 8% per annum for 1 year and 73 days. How much amount did he pay to clear his debt?a)Rs. 13500b)Rs. 13700c)Rs. 14250d)Rs. 14500Correct answer is option 'B'. Can you explain this answer? for SSC 2024 is part of SSC preparation. The Question and answers have been prepared according to the SSC exam syllabus. Information about A man borrowed Rs. 12500 at a simple interest of 8% per annum for 1 year and 73 days. How much amount did he pay to clear his debt?a)Rs. 13500b)Rs. 13700c)Rs. 14250d)Rs. 14500Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for SSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A man borrowed Rs. 12500 at a simple interest of 8% per annum for 1 year and 73 days. How much amount did he pay to clear his debt?a)Rs. 13500b)Rs. 13700c)Rs. 14250d)Rs. 14500Correct answer is option 'B'. Can you explain this answer?.
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