Mathematics · Simple Interest
Ram borrows a sum of ₹24,000 from his friend Soham on 31 December 2021 on the condition that he will return it after one year with simple interest at 18% per annum. However, Ram returns the money on 1 August 2022. What total amount does Ram have to return to Soham?
- 1₹26,520✓
- 2₹25,250
- 3₹26,250
- 4₹25,520
Correct answer
₹26,520
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