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A person borrowed Rs 1000 at the rate of 10% per annum simple interest. What is the amount he has to pay after 5 years to clear the debt?

Option 1)
Rs.1564
Option 2)
Rs.1520
Option 3)
Rs.1500
Option 4)
   Rs.1550
Option 5)
Rs.1532

Answers (1)

best_answer

P = 1000, R = 10% , T = 5 years

$S.I = \frac{PTR}{100} = \frac{\left \{ 1000\times 5 \times 10 \right \}}{100}{ }= 500$

$Desired\: answer = 1000 + 500 = 1500$

Posted by

rishi.raj

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