Question

Amit borrowed Rs 75000 from a bank at the rate of 9% per annum for a certain period. He paid Rs

27,000, as interest find the period of this transaction​

Answer 1

Answer:

P = 75000

R = 9%

I = 27000

T = ?

T = (I x 100) / (P x R)

= (27000 x 100) / (75000 x 9)

= (27 x 100) / (75 x 9)

= 4 yrs