Question 105

Tushar borrowed a sum of ₹12,000 at 15% per annum from a money-lender on 13th January, 1987 and return the amount on 8th June, 1987 to clear his debt. Then the amount paid by Tushar to the money-lender to clear his debt was

Solution

Sum borrowed = Rs. 12,000 at rate of interest = 15%

Time period = 18 + 28 + 31 + 30 + 31 + 8 = 146 days

Simple interest = $$\frac{P\times R\times T}{100}$$

= $$\frac{12,000\times 15\times 146}{365\times100}$$

= $$\frac{120\times15}{2.5}=120\times6=Rs.$$ $$720$$

$$\therefore$$ Amount paid by Tushar to the money-lender to clear his debt = $$12,000+720=Rs.$$ $$12,720$$

=> Ans - (B)

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