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)

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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