Bhupendra borrowed rs 6300
for a period of 2year 8month at 7%rate of interest per annum.find out how much amount he has to repay.
6410.25
6300*1.07*(8/3)
It is correct answer
To find out how much Bhupendra has to repay, we need to calculate the simple interest for the given loan.
First, let's calculate the time period in terms of years.
2 years 8 months can be converted to years by dividing the number of months by 12:
8 months / 12 months = 0.67 years (approximately)
Now, we can calculate the simple interest using the formula:
Simple Interest = (Principal * Rate * Time) / 100
Where:
Principal = Rs 6300
Rate = 7% per annum (in decimal form, 7/100 = 0.07)
Time = 2.67 years (calculated above)
Substituting the values into the formula:
Simple Interest = (6300 * 0.07 * 2.67) / 100
Calculating further:
Simple Interest = ( 939.51 ) / 100
Simple Interest = Rs 66.09 (approximately)
Therefore, Bhupendra has to repay the borrowed amount (Principal) plus the calculated simple interest:
Total Amount to Repay = Principal + Simple Interest
Total Amount to Repay = Rs 6300 + Rs 66.09
Total Amount to Repay = Rs 6366.09 (approximately)
So, Bhupendra has to repay approximately Rs 6366.09.