Question

A man borrowed rupees 24000 from his friends at 2% per month. find the total amount paid at the end of second year.

Answer 1

p×r×t÷100 ans is 24960

Answer 2

Rate of interest per annum = 2 % * 12= 24 % pa.

Now,
Simple interest = Principal * Rate of interest * Time / 100
= 24000 * 2 * 24 / 100
= 11,520 rupees

So, the amount will be 
Principal + Interest = 24000 + 11520 = Rs. 35,520

hope this helps...