Ridhaan took a loan of ₹12,000 at the rate of 8% simple interest per annum. What amount will he have to pay after 6 months, if he decides to repay the entire loan amount with interest at that time?

12,580 12,480 14,690 13,720

12,480

6 months = 0.5 year Simple Interest = \(\frac{Principal ×Rate × Time }{100}\) = \(\frac{12000 × 8 × 0.5 }{100}\) = 480 Now , Amount = Principal + Interest = 12000 + 480 = Rs. 12480