Question

Hiralal borrowed ₹30,000 at 11 p.c.p.a from a bank for 1 year. how much money should he pay to the bank at the end of the year?
​

Answer 1

Answer:

WE WILL APPLY THE FORMULA OF SIMPLE INTEREST THAT IS P × T × R / 100 WHERE P IS 30000, T IS 1 YEAR AND R IS 11 %.

30000×1×11/100 = 3300

AMOUNT = PRINCIPAL + INTEREST

30000+3300 = 33300

Answer 2

Answer:

solution : Interest is in proportion to the principal

let the interest on 30,000 RS be rs x. the interest on 10rs is 11rs

x/30,000= 11/100 x/30,000=11/100 multiply 30,000 x=11 ✖ 300 =3300