Question

3) Ratan borrowed 45000 from a bank at a interest rate of 9 p.c.p.a. What amount will he have to return to the bank at the end of the year?​

Answer 1

Answer:

Ratan will have to return 49050 rupees

Step-by-step explanation:

Amount = Principal + SI

Principal = P = 45000

Rate = R = 9% p.a.

Time = T = 1 year

SI = P × R × T/100

= 45000 × 9 × 1/100

= 450 × 9

= 4050

Amount = P + SI

= 45000 + 4050

= 49050 rupees