Ram borrows Rs. 520 from Gaurav at a simple interest of 13% per annum. What amount of money should Ram pay to Gaurav after 6 months to be absolved of the debt?.

A. Rs. 353.80

B. Rs. 453.80

C. Rs. 552.80

D. Rs. 553.80

Answer: Option D

Solution(By Examveda Team)

$$\eqalign{ & {\text{P}} = {\text{Rs}}.\,520, \cr & {\text{R}} = 13\% \cr & {\text{T}} = \frac{1}{2}yr. \cr & \therefore {\text{S}}{\text{.I}}{\text{.}} = {\text{Rs}}{\text{.}}\left( {\frac{{520 \times 13}}{{100 \times 2}}} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}33.80 \cr & {\text{Hence, amount after 6 months}} \cr & = {\text{Rs}}{\text{. }}\left( {520 + 33.80} \right) \cr & = {\text{Rs}}{\text{. }}553.80 \cr} $$