Question

Ajay borrowed Rs 10,000 from his friend at the rate of 9% per annum.He returns the amount after 15 months,What interest would Ajay pay to his friend



Please answer this question please​

Answer 1

Interest Ajay pays would be 1125.

Step-by-step explanation:

First let's Convert 15 months into years.

15 months = 15/12 = 1.25 years

Find an interest by using the formula I = p * i* t, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.

Here,

P = 10000, i = 9% and t = 1.25 years, so

I = p* i * t

I = 10000 * 9 * 1.25

I = 1125

Now let's find the amount using the formula,

A = P + I

Since P = 10000 and I = 1125 we have,

A= 10000 + 1125

A = 11125.

Hope it helped.

(Sorry if you are having trouble with the formulas)