Question

Dilip borrowed rs 1000 for 8 months at 6% per annum find the interest and the amount paid by him to clear this loan

Answer 1

S.I =) R * P *T /100

P = 1000

Time =)8 months or 8/12 months

i.e

$\frac{8}{12} = \frac{3}{2}$

months.

Rate =)6%

A/Q

$\frac{1000 \times \frac{3}{2} \times 6 }{100}$

=)90

Amount = SI + Principle

=)1000 + 90

=)1090