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Ram borrows Rupees 520 from Govind at a simple interest of 13% per annum. What amount of money should Ram pay to Govind after six months to be absolved of the debt? - Mathematics

MCQ

Ram borrows Rupees 520 from Govind at a simple interest of 13% per annum. What amount of money should Ram pay to Govind after six months to be absolved of the debt?

Options

  • 552.80

  • 553.80

  • 453.80

  • 353.80

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Solution

553.80

Explanation:

SI`="PRT"/100`

where P = 520, T = 1/2, R = 13%

SI`=(520xx1xx13)/(2xx100)=33.80`

Amount to pay = 520 + 33.80 = 553.80

Concept: Simple and Compound Interest
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