Question

9. Mona borrows money from a bank for the period of 3 years. Bank offers her the
interest rate of 12% p.a. If she has borrowed the principal sum of Rs. 12,000 then
what is the amount she has to pay at the end of her loan term?​

Answer 1

Answer:

RS.16320

Step-by-step explanation:

Using simple interest:

Principal=12000

Rate=12%

time=3 years

simple interest :P×R×T/100

12000×12×3/100=4320

Principal+interest=amount

12000+4320=16320