Question

How much interest will a bank charge a customer for a 1,10,000 loan given at rate 13.5% per annum for 2 months

Answer 1

P= 1,10,000

R=13.5% P.A.

T= 2 months

= 2/12 years

acc. to the si. formula,

i=p x r x t/100

So,

I= 1,10,000*13.5*2/100*12

I= 2475

thats the answer= 2475.

Answer 2

Answer:

p =1, 10,000

r = 13.5%

t = 2 months

I = P×R×T

______

100

I = 1,10,000×13.5×2

-----------------------

100×12

ANSWER = 2745