Question

Find the amount of a loan of ₹ 8000.00 at 8 % per year and for 7 years?_______________________________________________________

Answer 1

GIVEN -

PRINCIPLE - ₹8000

RATE - 8%

TIME - 7 years

S.I - ?

SOLUTION -

S.I - ( P × R × T) / 100

S.I - (8000 × 8 × 7) / 100

S.I - 448000/100

S.I - ₹ 4480

TOTAL AMOUNT = S.I + PRINCIPLE

TOTAL AMOUNT = 4480 + 8000

TOTAL AMOUNT = ₹12480