A man borrowed rs 60000 from the bank at 12% per annum. Find the payable at the end of 6/12year
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6
rs 60000
12%
I = p*r*t/100
I = 60000*12*1 / 100*2
=3600
payable = 63600
Answered by
2
Principal, P = ₹ 60,000
Rate of interest, R = 12 % p.a.
Time, T = 6/12 years = 1/2 years
Unless mentioned we are supposed to calculate simple interest only.
Simple Interest, SI = (P * R * T) / 100
SI = (60000 * 12 * 1/2) / 100
SI = 360000 / 100
SI = ₹ 3600
Simple Interest = ₹ 3,600
Now we know,
Amount, A = Principal + Simple Interest
A = P + SI
A = ₹ 60,000 + ₹ 3,600
A = ₹ 63,600
Amount = ₹ 63,600
Rate of interest, R = 12 % p.a.
Time, T = 6/12 years = 1/2 years
Unless mentioned we are supposed to calculate simple interest only.
Simple Interest, SI = (P * R * T) / 100
SI = (60000 * 12 * 1/2) / 100
SI = 360000 / 100
SI = ₹ 3600
Simple Interest = ₹ 3,600
Now we know,
Amount, A = Principal + Simple Interest
A = P + SI
A = ₹ 60,000 + ₹ 3,600
A = ₹ 63,600
Amount = ₹ 63,600
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