Question

Dilip took out a loan of 36000 rupees from a bank which changes 10%interest he decided to pay back the total amount included interest for 2 years in 24 monthly installment how much should she pay every month ​

Answer 1

Answer:

1800 rupees per month

Step-by-step explanation:

simple interest=principle*rate*time/100

Answer 2

Monthly paid installment will be Rs.1800

Step-by-step explanation:

We have given loan taken by Dilip is Rs.36000

So principal amount P = 36000

Rate of interest r = 10%

Time t = 2 years

We know that simple interest is equal to $SI=\frac{P\times r\times t }{100}$, here P is principal amount r is rate of interest and t is time

So $SI=\frac{36000\times 10\times 2 }{100}=7200$

So total amount to be paid = 36000+7200 = 43200

As 1 year = 12 months

So 2 year = 12×2 = 24 months

So installment paid monthly will be equal to $=\frac{43200}{24}=1800$

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