Question

A man borrowed 4500 at 8% per annum S.1. on 7th January 1997. He paid back the
principal together with interest on 14th August, 1997. How much money did he pava​

Answer 1

Step-by-step explanation:

From Jan to Aug 8months.

Per annum 8% interest for 4500 is 4500*8/100

=360. (which is for 12 months)

For 8minths it is 360*(8/12)=240

So at final he had to pay 240+4500=4740..

Hope u understand...