Question

1) Jethalaal took a housing loan of *
2,50,000 from a bank at 10 p. c. p. a for 5
years. What is the yearly interest he
must pay and the total amount he
returns to the bank?​

Answer 1

Yearly interest is 25000 and total amount Jethalal will return to the bank is 3,75,000.

Step-by-step explanation:

Given:- Principle (P) =2,50,000

Interest (I) = 10%

Time (T) = 5 years

To find:-1) Yearly Interest

2) Total amount Jethalal will return to the bank.

Solution:- Yearly interest= P×I×T/100=

2,50,000×10×1/100= 25,000

Therefore interest of 5years=5×25,000=1,25,000

Total amount to be paid=P+I=

2,50,000+1,25,000=3,75,000

Therefore Yearly interest is 25,000 and total amount Jethalal will return to the bank is 3,75,000 rupees,

Hope it helps ☺