Difficulty: Easy
Correct Answer: ₹ 8540
Explanation:
Introduction / Context:
When a balance is carried forward with simple interest, the interest accrues only on the unpaid remainder for the specified time. The total outlay is the upfront payment plus the future payment including its interest.
Given Data / Assumptions:
Concept / Approach:
Interest on balance = 4500 * 0.08 * 1.5. Total paid = 3500 + 4500 + interest.
Step-by-Step Solution:
Verification / Alternative check:
Why Other Options Are Wrong:
Common Pitfalls:
Final Answer:
₹ 8540.
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