Find the amount paid at the end of 5 years if Rs 12000 is borrowed from a money lender at the rate of 5 % p.a.
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Answer:
15,000 Rs
Step-by-step explanation:
Principal - 12000rs
Rate of Interest - 5%
Time - 5 years
Simple Interest is
P × R× T / 100
- 12000×5×5/100
- 120×25
- 3000 Rs
Amount - Principal + Simple Interest
- (12000+3000)rs
-15000 Rs
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