Question

A person take a lone of 40000 at 6% compound interest per annum he will repay rs 9000 every year for first four year and will repay the remaining amount at the end of fifth year how he will pay in the last installment

Answer 1

This is just example

A sum of Rs 10,000 is borrowed at a rate of interest 15% per annum for 2 years. Find the simple interest on this sum and the amount to be paid at the end of 2 years.

Answer

On Rs 100, interest charged for 1 year is Rs 15.

So, on Rs 10,000, interest charged =

15/100×10000=₹1500

Interest for 2 years =₹1500×2=3000

Amount to be paid at the end of 2 years = Principal + Interest

I hope this will help you

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