How Much Interest Sameer did Pay? If

Sameer had taken some loans from Ravi on simple interest at 11% per annum. After 4 years he returned the loan and the interest by paying Rs.7,200. How much interest did he pay?

  1. Rs.4,032
  2. Rs.2,200
  3. Rs.3,168
  4. Rs.1,032

 

kailashkumar Default Asked on 26th July 2015 in Maths.
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  • 1 Answer(s)

    Answer: (2) Rs.2,200
    Explanation:-
     Given-
    Principal = ?, Amount = Rs.7,200 , time = 4 years, rate = 11 %
    Formula-
    Simple Interest = P x R x T/100
    Where, P – principal, R – rate  & T – time.
    S I = P x 11 x 4/100
    S I = P 11/25
    7200 = P + 11 P/25
    7200 = (25 P + 11 P)/25
    7200 x 25 = 36 P
    P = 200 x 25
    P = 5000
    Then, S I 72,00 – 5000
    = Rs.2,200
    Hence, the answer is (2) Rs.2,200

    Anurag Mishra Professor Answered on 26th July 2015.
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