A man borrow rs 1200 from a bank for a period of 3 months he finds he has to repay rs 1236 find the bank rate of interest
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A man borrows Rs. 1200 from a bank for a period of 3 months. He finds he has to repay Rs. 1236. Find e bank rate of interest. 1. See answer. Add answer+5 pts. Log in to add comment.
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Answer:
Money borrowed by the man=1200
total period of borrowing money=3 months
total money with interest the man gave=1236
Therefore,
1236-1200=36
Again,
36/3
=12
The interest of the bank per month=₹12
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