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Shashi borrowed Rs. 25,000 on simple interest at the rate of $$8\%$$ p.a. for 3 years. At the end of 3 years, she paid back Rs. 30,000. How much money she still has to pay?
Simple interest is $$\frac{P \times R \times T}{100} = \frac{25000 \times 8 \times 3}{100} = 6000$$ rupees. The total amount due is $$25000 + 6000 = 31000$$ rupees. After paying Rs. 30,000, she still owes $$31000 - 30000 = 1000$$ rupees.
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