A student borrowed ₹6,400 from his teacher at 7.5% simple interest per annum. He repaid the money after 3 years, along with an additional club membership fee of ₹360. Find the total amount he paid back.
Show answer & explanation
Correct answer: C
Explanation
Given:
P = 6400, R = 7.5%, T = 3 years, Additional = 360
According to the formula:
SI = (P × R × T) / 100
SI = (6400 × 7.5 × 3) / 100 = 1440
Total Amount = 6400 + 1440 + 360 = ₹8,200