Question

A man borrowed rs. 12,000 from a bank with at 9% simple interest per annum. What would be the amount to be paid at the end of the year?

Answer 1

Answer:

Amount to be paid at the end of the year = Rs.13,080

Step-by-step explanation:

P = principal = Rs.12,000

R = rate of interest per cent per year = 9

T = time period in years = 1

Simple Interest (SI) = (P*R*T)/100

                                = (12000*9*1)/100

                                = 1080

Amount to be repaid = Principal + SI

                                   = 12000 + 1080

                                   = 13080

The amount payable at the end of the year = Rs.13,080