Anita borrowed Rs. $400$ from her friend at the rate of $12$ % per annum for $2\frac{1}{2}$ years. Find the interest and amount paid by her.
Given: Anita borrowed $Rs.\ 400$ from her friend at the rate of $12$ % per annum for $2\frac{1}{2}$ years.
To do: To find the interest and amount paid by her.
Solution:
Here we have $P=Rs.\ 400,\ R=12$ % per annum and $T=2.5$ years
Simple interest $I=\frac{PRT}{100}$
$=\frac{400\times 12\times 2.5}{100}$
$=4\times12\times2.5=Rs.\ 120$
Thus, Amount paid by her$=P+I=400+120=Rs.\ 520$
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