?
Damani purchased an item costing Rs. 7,500 and paid Rs. 3,500 as a down payment for the same. If the simple interest charged for the remaining amount is 9% per annum and Damani cleared all dues after 4 months of the purchase, how much did Damani pay after 4 months as interest?
Answer & Solution
Correct Answer:
Option
A
$$\eqalign{
& {\text{She paid}} = 3500 \cr
& {\text{Left amount}} = 7500 - 3500 = 4000 \cr
& {\text{S}}{\text{.I}}{\text{.}} = \frac{{4000 \times 9 \times 4}}{{100 \times 12}} = 120 \cr} $$
Join the Discussion
Login to post a comment or share your explanation.
Login