At simple interest Gaurav borrows â‚¹1,500 from Sandeep at the rate of 14% per annum. What amount of money should Gaurav pay to Sandeep after 1 year to clear the debt?

₹1,700 ₹1,710 ₹1,705 ₹1,715

₹1,710

We know , Simple Interest = \(\frac{Principal ×Rate × Time }{100}\) = \(\frac{1500 ×14 × 1 }{100}\) = 210 Amount paid to Sandeep by Gaurav = 1500 + 210 = 1710