a)₹ 6624
b) ₹ 6224
c) ₹ 6264
d) ₹ 6262
correct answer is: c) ₹ 6264
Explanation
Here,
Principal = ₹ 6000
Rate of interest = 12% per annum
Time = 3 years 8 months or \left(3+\frac{8}{12}\right) or \frac{44}{12} years.
We know, SI =\frac{P\times R\times T}{100}
\therefore SI =\left(\frac{6000\times12\times44}{12\times100}\right)
\rightarrow SI = ₹ 264
We also know,
Amount = (Principal + SI)
\therefore Amount =₹ 6000 + ₹ 264
\rightarrow\ ₹6264
\therefore\ ₹ 6264 will clear off Shanta debt.
Ans: ₹ 6264 will clear off Shanta debt.