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Ravi borrowed Rs. 36000 from Akash at a simple interest of 8% per annum for a period of 4 years. Calculate the amount to be returned by Ravi to Akash after 4 years?

Solution

✅ Correct Option: 3

Simple interest is SI=P×R×T100=36000×8×4100=11520SI = \frac{P \times R \times T}{100} = \frac{36000 \times 8 \times 4}{100} = 11520.

Amount =P+SI=36000+11520=47520= P + SI = 36000 + 11520 = 47520.

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