Question

Soni rent Anju a sum of Rs 40,000 at the rate of 2 paisa per 2 rupees per

Answer 1

Answer:

RS 14400

Step-by-step explanation:

Given the following :

Principal sum = RS 40000

Rate = 2 paisa per 2 rupee per month

Interest at the end of 3 years

1 rupee = 100 paisa

2 Paisa per 2 rupee per month :

2/200 per month = 1 / 100 per month,

Hence rate = 0.01 = 1% monthly

Annual rate = 1% × 12 = 12 % = 0.12

Simple interest :

Principal × rate × time

40000 × 0.12 × 3

40000 × 0.36

= RS 14,400