how much amount will you pay for a loan of rupees 3000 from a bank if the interest rate is 12%
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3360 will be payed in interest of 12%
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1
As assuming Loan Term is for 1 Year
Calculating Simple Interest of Loan
then it will be as
Simple Interest = (Principle Amount X Rate of Interest X Term)รท 100
SI =
360 Rupees
then Adding Principle Amount
Pay After one Year is 3360
Hope Help
Calculating Simple Interest of Loan
then it will be as
Simple Interest = (Principle Amount X Rate of Interest X Term)รท 100
SI =
360 Rupees
then Adding Principle Amount
Pay After one Year is 3360
Hope Help
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