A sum of ₹10,000 is borrowed at a rate of simple interest 15% per annum for 2 years. Find the amount to be paid at the end of two years.

Correct option is A

Given:

Principal (P) = ₹10,000

Rate (R) = 15% per annum

Time (T) = 2 years

Formula Used:

Simple Interest (SI) = $$\frac{P \times R \times T}{100}$$​​

Amount = P + SI

Solution:

SI = $$\frac{10000 \times 15 \times 2}{100}$$​= ₹3000

Amount = 10000 + 3000 = ₹13000