Rohit borrowed Rs. 24,000 at `7*5` percent per year. How much money will he pay at the end of 4 years to clear his debt ?

Answer

To find out how much money Rohit will pay at the end of 4 years to clear his debt, we need to calculate the simple interest first and then add it to the principal amount. Here’s the step-by-step solution:

### Step 1: Identify the given values
- Principal (P) = Rs. 24,000
- Rate of interest (R) = 7.5% per annum
- Time (T) = 4 years

### Step 2: Use the formula for Simple Interest (SI)
The formula for calculating Simple Interest is:
\[ SI = \frac{P \times R \times T}{100} \]

### Step 3: Substitute the values into the formula
Substituting the values we have:
\[ SI = \frac{24000 \times 7.5 \times 4}{100} \]

### Step 4: Simplify the calculation
First, calculate \(24000 \times 7.5\):
\[ 24000 \times 7.5 = 180000 \]
Now, multiply by 4:
\[ 180000 \times 4 = 720000 \]
Now divide by 100:
\[ SI = \frac{720000}{100} = 7200 \]

### Step 5: Calculate the total amount to be paid
The total amount (A) to be paid at the end of 4 years is given by:
\[ A = P + SI \]
Substituting the values:
\[ A = 24000 + 7200 = 31200 \]

### Final Answer
Rohit will pay Rs. 31,200 at the end of 4 years to clear his debt.

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