Question

if a man borrow rs 1500000 at rate of intrest is 18%per annum no of years is 5 years what is the monthely payment would be

Answer 1

Every Month : Rs.38,090.14
total of 60 Payments :Rs. 2285408.47
Total interest : Rs.785408.47

Answer 2

Ans.

Sum (S) = Rs 1500000
Rate (r) = 18%
Time (t) = 5 years

So, interest in 5 years
= (S×r×t)/100
= Rs 1350000

So if the man wishes to pay the interest only, then he has to pay Rs 22500 per month and the total sum at a time can be paid.

But if he wishes to pay the total money,
then he has to pay
Rs (1500000+1350000)÷(5×12)
= Rs 47500 per month.

I HOPE THAT THIS HELPS YOU.