Question

Ariel takes a loan of $8,000 to buy a used truck at the rate of 9 % simple Interest.Calculate the annual interest to be paid for the loan amount after 1 year ?

Answer 1

Answer:

720 Rs

Step-by-step explanation:

P = 8000

r = 9%

t = 1 yr

S.I = P × r × t/100

=

$\frac{8000 \times 9 \times 1}{100} = \frac{72000}{100}$

=720Rs.

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Answer 2

Answer:

The annual interest to be paid for the loan amount after 1 year is Rs.720

Step-by-step explanation:

Given data  

Ariel taken a loan of $ 8,000  at the rate of 9% for simple interest  

here we need to calculate the annual interest to be paid for the loan amount after 1 year  

from given data Principal amount (P) = $ 8000

                              rate of interest (R) = 9%

                                    time period (T) = 1 year  

the formula for simple interest  I = $\frac{PTR}{100}$  

                                    Interest  (I) = $\frac{8000(9)(1)}{100}$  

                                                       = 80(9)  = 720 Rs