Rohan buys a bike priced at ₹95,000. He pays ₹25,000 at once and the rest after 18 months, on which he is charged a simple interest at the rate of 10% per annum. The total amount (in ₹) he pays for the bike is:
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 1,05,500.
SI =
here, P = Principal, R = Rate, and T = Time
SI = = 10500
Final payment = 70000 + 10500 = 80500
Total amount paid = 25000 + 80500 = ₹1,05,500