Tushar borrowed a sum of Rs. 12000 at 15% per annum from a money - lender on 13<sup>th</sup> January, 1987 and return the amount on 8<sup>th</sup> June, 1987 to clear his debt. Then the amount paid by Tushar to the money - lender to clear his debt was = ?
Correct Answer: Rs. 12720
Time = 18 + 28 + 31 + 30 + 31 + 8 = 146 days
$$\eqalign{ & {\text{Simple Interest}} \cr & {\text{ = }}\frac{{12000 \times 15 \times 146}}{{365 \times 100}} \cr & {\text{ = Rs}}{\text{. 720}} \cr & \therefore {\text{Amount will be }} \cr & {\text{ = Rs}}{\text{.}}\left( {12000 + 720} \right){\text{ }} \cr & {\text{ = Rs}}{\text{. 12720}} \cr} $$
$$\eqalign{ & {\text{Simple Interest}} \cr & {\text{ = }}\frac{{12000 \times 15 \times 146}}{{365 \times 100}} \cr & {\text{ = Rs}}{\text{. 720}} \cr & \therefore {\text{Amount will be }} \cr & {\text{ = Rs}}{\text{.}}\left( {12000 + 720} \right){\text{ }} \cr & {\text{ = Rs}}{\text{. 12720}} \cr} $$