Q1 of 32 Page 46

Two friends together took a loan amount ₹15,000 to run a business from a bank at the rate of simple interest of 12% per annum. Let us write, by calculating, the interest they have to pay after 4 yrs.

In mathematical language, the problem is



In that bank, the rate of simple interest is 12%.


So, the interest of Rs. 100 in 1 yr is Rs. 12


The interest of Rs. 1 in 1 yr is Rs.


⇒ The interest of Rs. 15,000 in 1 yr is


= Rs. 1,800


⇒ The interest of Rs. 15,000 in 4 yr is


= Rs. 7,200


The total interest paid by them = Rs. 7,200


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