Question

A man borrowed $4000 from his friend at the rate of 12% per year for 2 years. find the interest and amount paid by him.
​

Answer 1

Answer:

the principal amount (P) = $ 4000

rate of interest (R) = 12 % per year

time(T) = 2 years

simple interest (SI) = PRT/100

SI = $ 4000 * 12 * 2 /100

SI = $ 960

Amount = P + SI

Amount = $ 4000 + $ 960

Amount = $ 4960

Step-by-step explanation:

hope this will help you