A person lends rs 1500 from bank. If the bank fixes the rate of intrest as 11% per annum then amount he has to pay back after 2year will be?
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1500 is principal
11’/. is rate of interest
2 years is the time period
By multiplying principal ,rate of interest , time period and dividing it by 100 we get simple interest .That is 330rupee
We get the amount to paid by adding
Principal and interest that is 1800rupees
11’/. is rate of interest
2 years is the time period
By multiplying principal ,rate of interest , time period and dividing it by 100 we get simple interest .That is 330rupee
We get the amount to paid by adding
Principal and interest that is 1800rupees
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