a man purchase a cycle for red 3000 and agree to pay 12% on the amount as interest he repaid principal and interest in 12 equal monthly installments find the amount of each installment
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Answered by
2
Answer:
Rs.280
Step-by-step explanation:
P = principal in Rupees = 3000
R = rate of interest per cent per year = 12
T = time period in years = 1
SI = simple interest
A = amount at the end of period T
SI = (P*R*T)/100
SI = 3000*12*1/100
= 360
A = 3000 + 360
= 3360
The total amount to be repaid = Rs.3360
The man repaid the amount in 12 equal monthly installments.
=> Amount of each installment = 3360 / 12 = 280
Answer: The amount of each of the 12 installments is Rs.280
Answered by
0
Answer:
Rs..280/-. IS THE ANSWER
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