Kamal borrowed Rs:25,000 at 1% per month from a family friend to start her entrepreneurial venture on December 15, 2022. If she paid back the loan on June 16, 2023, how much simple interest did he pay?

To calculate the simple interest Kamal paid, we can use the formula for simple interest:

\[
\text{Simple Interest (SI)} = \text{Principal} \times \text{Rate} \times \text{Time}
\]

Where:
- **Principal (P)** = Rs. 25,000
- **Rate (R)** = 1% per month
- **Time (T)** = Number of months between December 15, 2022, and June 16, 2023

### Step 1: Calculate the time period.
- From December 15, 2022, to June 16, 2023, the time period is 6 months and 1 day. For simplicity, we consider this as 6 months.

### Step 2: Apply the values in the formula.
\[
\text{SI} = 25,000 \times \frac{1}{100} \times 6
\]
\[
\text{SI} = 25,000 \times 0.01 \times 6
\]
\[
\text{SI} = 25,000 \times 0.06 = \text{Rs. 1,500}
\]

### Conclusion:
Kamal paid **Rs. 1,500** as simple interest.

Would you like more details or have any questions?

Here are 5 related questions:
1. How would the interest change if the rate was 2% per month?
2. What would be the interest for a loan of Rs. 50,000 under the same conditions?
3. How is simple interest different from compound interest?
4. What if the loan period was extended by 3 months, how much would the interest be?
5. How can Kamal calculate the total amount she needs to repay?

**Tip:** Always double-check the time period used in interest calculations, as it can significantly affect the outcome.

Learn how to calculate simple interest on a loan using Kamal's example. Understand the formula SI = PRT and compute the interest paid on a loan of Rs. 25,000 borrowed at 1% per month from December 15, 2022, to June 16, 2023.

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