Question

how much interest would naina pay on a loan of 45000 at the rate of 12 % for 9 months ?

Answer 1

Answer:4050

Step-by-step explanation:

The formula for Simple Interest = (p×r×t)/100

Where p=sum of money, r= rate% and t= time period

Given values

p= 45000

r= 12% per annum but for 9 month it will be 9%(converted a year into four quarters and 9 months has 3 quarters)

t= 1 year ( to reduce the rate to 9%)

SI = (p×r×t)/100

= (45000×9×1)/100

=4050

Answer 2

The value of interest would naina pay is 4050.

Step-by-step explanation:

Given

45000 at the rate of 12 % for 9 months.

To Find:

The value of interest would naina pay.

Formula Used:

$SI=\frac{MSR}{100}$                ------------------------------- formula no 01.

Where SI = simple interest

M = principal

R = interest rate (in percentage)

S= time duration (in years)

Solution:

As given-45000 at the rate of 12 % for 9 months.

M=45000      , R= 12%    and T =9 months  $=\frac{9}{12}=\frac{3}{4} \ year$

Applying formula no.01.

$SI=\frac{45000\times \frac{3}{4}\times12 }{100}$

     $=\frac{45000\times 3\times12 }{4\times100}$

     $= 4050$

Thus,the value of interest would naina pay is 4050.

PROJECT CODE# SPI2