Question

A person borrowed Rs.200 at 12%
interest p.a. If he is supposed to
return money within 2 years then
his EMI using flat interest rate will
be​

Answer 1

Answer:

interests is 48

Step-by-step explanation:

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Answer 2

Given,

A person borrowed Rs.200 at 12% interest p.a.

To Find,

If he is supposed to return the money within 2 years then his EMI using a flat interest rate will be​ =?

Solution,

We can solve the question as follows:

It is given that a person borrowed Rs.200 at 12% interest p.a. He is supposed to return the money within 2 years. We have to find the simple interest.

$Principal\: amount = Rs.\: 200$

$Rate\: of\: interest = 12$%

$Time\: period = 2\: years$

The formula for finding the simple interest is:

$Simple\: interest = \frac{Principal*Rate*Time}{100}$

Substituting the values in the above formula,

$Simple\: interest = \frac{200*12*2}{100}$

                         $= 2*12*2$

                         $= Rs.\: 48$

Hence, his EMI will be equal to Rs. 48.