Question

Akash lend ₹28,800 to his friend at the rate of 12% for 2 years. How much interest will he get? *
1 point
​

Answer 1

Required Answer:-

Question:

• Akash lend ₹28,800 to his friends at the rate of 12% for 2 years. How much interest will he get?

Solution:

We have,

1. Principal Amount = ₹28,800
2. Rate of Interest = 12% p.a.
3. Time Period = 2 years.

Therefore,

➡ S.I. = PRT/100

➡ S.I. = 28,800 × 12 × 2/100

➡ S.I. = 288 × 24

➡ S.I. = ₹6,912

Therefore, the simple interest of ₹28,800 @12% p.a for 2 years is ₹6,192.

Answer:

• S.I. = ₹6,192/-