How Much More did He Pay as Simple Interest? If

Ram bought a bike for ₹ 60,000. He paid ₹ 10000 cash down and the rest at the end of 2 years at 15% simple interest. How much more did he pay as simple interest?

  1. ₹ 25,000
  2. ₹ 15, 000
  3. ₹ 50,000
  4. ₹ 35,000
Monis Rasool Professor Asked on 9th October 2015 in Maths.
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1 Answer(s)

Answer: (2) Rs. 15, 000

Explanation:-
Ram bought a bike for Rs. 60, 000. He paid Rs. 10, 000
Then, rest amount = 60, 000 – 10, 000
= Rs. 50, 000

Time = 2 years, Rate = 15%
Then, the simple interest = 50, 000 x 2 x 15/100
= 500 x 2 x 15
= Rs. 15, 000

Then, he pay Rs. 15, 000 as simple interest.

Hence, the answer is (2) Rs. 15, 000.

Anurag Mishra Professor Answered on 10th October 2015.
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