A borrows a sum of Rs. 1,000 from his friends B on 31 December 2015 on the condition that he will return the same after one year with simple interest at 12%. However, A gets position of returning the money on 1 May 2016. How much amount he has to return to B?

A borrows a sum of Rs. 1,000 from his friends B on 31 December 2015 on

1.	A borrows a sum of Rs. 1,000 from his friends B on 31 December 2015 on the condition that he will return the same after one year with simple interest at 12%. However, A gets position of returning the money on 1 May 2016. How much amount he has to return to B?
A.	Rs. 1,040
B.	Rs. 1,045
C.	Rs. 1,120
D.	Rs. 1,331.5
Answer» B. Rs. 1,045

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A borrows a sum of Rs. 1,000 from his friends B on 31 December 2015 on the condition that he will return the same after one year with simple interest at 12%. However, A gets position of returning the money on 1 May 2016. How much amount he has to return to B?

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