Mathematics · Simple Interest

Amit borrows a sum of money from Avinash for 2 years at 5% simple interest per annum. After 2 years, he repays Rs 6,666 in full settlement of the loan. How much interest did Amit pay?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Rs 606✓
2Rs 610
3Rs 612
4Rs 600

Correct answer

Rs 606

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Amit borrows a sum of money from Avinash for 2 years at 5% simple interest per annum. After 2 years, he repays Rs 6,666 in full settlement of the loan. How much interest did Amit pay?

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Amit borrows a sum of money from Avinash for 2 years at 5% simple interest per annum. After 2 years, he repays Rs 6,666 in full settlement of the loan. How much interest did Amit pay?

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