Question

a man borrowed Rupees 25000 from a bank to buy a scooter. Find the amount he would pay after 2.5 years at 12% per annum simple interest

Answer 1

Simple interest= P×R×T
100
=25000×12×2.5
=180000

Answer 2

P = 25000
R = 12%
T = 2.5
Interest = P x R x T/100
= 25000 x 12 x 2.5/100
= 250 x 12 x 2.5
= 250 x 30
= 7500
Amount payable = 25000 + 7500
= 32500