To buy furniture for a new apartment, Sylvia Chang borrowed Rs. 5000 at 11% per annum simple interest for 11 months. How much interest will she pay?

Options

A. Rs. 500
B. Rs. 504.17
C. Rs. 6050
D. Rs. 605

Answer

To find the interest Sylvia Chang will pay on her loan, we will use the formula for simple interest:

### Step-by-Step Solution:

1. **Identify the given values:**
- Principal (P) = Rs. 5000
- Rate of interest (R) = 11% per annum
- Time (T) = 11 months

2. **Convert time from months to years:**
- Since the rate is per annum, we need to convert the time from months to years.
- Time in years (T) = 11 months = \( \frac{11}{12} \) years

3. **Use the simple interest formula:**
- The formula for simple interest (SI) is:
\[ SI = \frac{P \times R \times T}{100} \]

4. **Substitute the values into the formula:**
- Substitute P, R, and T into the formula:
\[ SI = \frac{5000 \times 11 \times \frac{11}{12}}{100} \]

5. **Calculate the interest:**
- First, calculate the numerator:
\[ 5000 \times 11 \times \frac{11}{12} = 5000 \times 11 \times 0.9167 = 5000 \times 10.0833 = 50416.67 \]
- Now divide by 100:
\[ SI = \frac{50416.67}{100} = 504.17 \]

6. **Final answer:**
- The interest Sylvia will pay is Rs. 504.17.

### Summary:
The total interest Sylvia Chang will pay on her loan is Rs. 504.17.