Bhawna borrowed Rs. 4,500 from a lender at the rate of 15% per annum, simple interest on 26 March 2018 and cleared the loan on 7 June of the same year. What amount did she pay to clear her loan?

Correct option is B

Given:

Amount =Rs. 4,500 

rate = 15% 

Formula Used:

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

Solution:

number of days from 26 March 2018 to 7 June 2018 =  5 (march) +30(april)+31(may) +7(june)

=73 days

for 365 days rate of interest = 15%

for 73 days rate of interest = $$\frac{15\times 73}{365}$$%

so interest for 73 days =$$\text{SI} = \frac{4500 \times 15 \times \frac{73}{365}}{100} = 135$$

so amount = $$= P + \text{SI} = 4500 + 135 = 4635$$​​