A man borrrows Rs. 4000 and pays back after 5 years at 15% simple interest.

A man borrrows Rs. 4000 and pays back after 5 years at 15% simple interest.
Posted on 14-04-2023

Ques - A man borrrows Rs. 4000 and pays back after 5 years at 15% simple interest. The amount paid by the man is :

(a) Rs. 1800

(b) Rs. 4800

(c) Rs. 7500

(d) Rs. 7000

Solution - 

Given,

P = 4000

R = 15

T = 5

S.I = (P×R×T) / 100

= ( 4000 × 15 × 5 ) / 100

= 3000

Amount = S.I + P

Amount = 3000 + 4000

Amount = 7000

Therefore,

The Amount paid by the man is Rs. 7000.

Hence,

The correct answer is option (d) Rs. 7000.

Thank You