Ridhaan took a loan of Rs12 000 at the rate of 8 simple interest per annum What amount will he have ...........

Quantitative Aptitude (MTS) Simple Interest

Ridhaan took a loan of Rs12,000 at the rate of 8% simple interest per annum. What amount will he have to pay after 6 months, if

he decides to repay the entire loan amount with interest at that time?

This questions was previously asked in

SSC MTS 25th July 2022 Shift-1

12,580

12,480

14,690

13,720

- Ridhaan borrowed Rs. 12,000.

- The simple interest rate is 8% per annum.

- He wants to repay the loan after 6 months.

- Simple Interest formula: \( \text{SI} = \frac{\text{Principal} \times \text{Rate} \times \text{Time}}{100} \).

- Plugging in values: \( \text{SI} = \frac{12,000 \times 8 \times \frac{1}{2}}{100} \).

- Calculate SI: \( \text{SI} = 480 \).

- Total amount to pay = Principal + Interest = 12,000 + 480 = 12,480.

- Option 1: 12,580 - Slightly higher than calculated amount.

- Option 2: 12,480 - Exact amount calculated.

- Option 3: 14,690 - Much higher than calculated amount.

- Option 4: 13,720 - Also higher than calculated amount.

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