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Rajiv borrows Rs. 6,840 from Raja on simple interest at the rate of $$6.5\%$$ per annum. What amount will be paid back after 3 years 9 months?
The time is 3 years 9 months, which is $$3\frac{9}{12} = \frac{15}{4}$$ years. Simple interest is $$\frac{6840 \times 6.5 \times 15}{100 \times 4} = 1667.25$$ rupees. The amount paid back is $$6840 + 1667.25 = 8507.25$$ rupees.
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