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Question:

Kamala borrowed Rs 26,400 from a bank to buy a scooter at a rate of 15%

Solution:

Step -1: Calculating the amount
Principal (P) = Rs 26,400
Rate (R) = 15%
Time (T) = 3 years
Simple Interest (SI) = (P x R x T) / 100
SI = (26400 x 15 x 3) / 100
SI = 11880
Amount = Principal + Simple Interest
Amount = 26400 + 11880
Amount = 38280