Question

15. Randhir borrowed 3 7,000 from a bank at 8% per annum. He returned the money after 9 months. How much did he pay back altogether?​

Answer 1

Answer:

39220

Step-by-step explanation:

37000×8/100×9/12

Answer 2

Answer:

Hey here is your answer.

Step-by-step explanation:

First, converting R percent to r a decimal

r = R/100 = 8%/100 = 0.08 per year,

putting time into years for simplicity,

9 months ÷ 12 months/year = 0.75 years,

then, solving our equation

I = 37000 × 0.08 × 0.75 = 2220

I = $ 2,220.00

The simple interest accumulated

on a principal of $ 37,000.00

at a rate of 8% per year

for 0.75 years (9 months) is $ 2,220.00.