Question

BUS
Identify the principal, period of loan, rate of loan for the given statements
1) Radhika wants to purchase a car worth 3 lakhs. She took Rs.
250,000 from the bank at 15% per annum for 6 years

2) Suraj gave Rs. 450,000 to his friend at 20% per annum for 10 years

3) Ramji bhai took Rs. 45,000 at 2% per annum for 18 months

4) Siraj got Rs. 15,00, 000 from the bank as a loan for 15 years at
16% per annum​

Answer 1

Answer

1) Principal-250,000

Period of loan-6 years

Rate of interest-15%

2) Principal-450,000

Period of loan-10 years

Rate of interest-20%

3) Principal-45,000

Period of loan-18 months or 1½ years

Rate of interest-2%

4) Principal-1,500,000

Period of loan-15 year

Rate of interest-16%