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Q

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

Views

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

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

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

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