Aspire Faculty ID #14538 · Topic: TANCET MCA 2024 · Just now
TANCET MCA 2024

Cynthia has borrowed Rs. 6,000 at the rate of 7% S.I. What amount does she need to pay after 3 years to clear the debt?

Solution

Principal (P) = 6000
Rate (R) = 7%
Time (T) = 3 years

Simple Interest (S.I.) = (P × R × T) / 100
= (6000 × 7 × 3) / 100 = 1260

Total Amount = P + S.I. = 6000 + 1260 = 7260

Answer: ₹7260

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