Question 48

Ram bought a bike for Rs.60,000. He paid Rs.10,000 cash down and the rest at the end of 2 years at 15% simple interest. How much more did he pay as simple interest ?

Solution

Principal sum = $$Rs.$$ $$60,000-10,000=Rs.$$ $$50,000$$

Rate of interest = 15% and time period = 2 years

=> Simple interest = $$\frac{P\times R\times T}{100}$$

= $$\frac{50,000\times15\times2}{100}$$

= $$500\times30=Rs.$$ $$15,000$$

=> Ans - (A)

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