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Ms. Revathi borrowed Rs. 600 at 6% per annum simple interest. What (in rupees) will she pay to clear her debt after 4 years?

Ms. Revathi borrowed Rs. 600 at 6% per annum simple interest. What (in rupees) will she pay to clear her debt after 4 years? Correct Answer 744

Given:

Ms. Revathi borrowed Rs. 600 at 6% simple interest

Formula Used:

simple interest = p × r × t/100

(where p is money borrowed, r is rate of interest and t is total time)

Calculation:

Now she has to return money after 4 years 

⇒ So total amount she will pay will be money borrowed + interest for 4 years

Interest for four years = p × r × t / 100 

So, total interest for four years will be = 600 × 6 × 4/100 = 144 

So, total amount given to clear debt = 600 + 144 = Rs. 744

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