Question

If a trader is charged a 15% simple interest on $12000 loan in a bank, what amount is he expected to pay back by the end of 2 years

Answer 1

Answer: Given

P=12000

r=15%

t = 2yrs

Step-by-step explanation: Formula

(p*r*t)/100

(12000*15*2)/100

$3600 is the required simple interest for 2 years

Amount = p+SI

12000+3600 = $15600  is     required amount to be returned after 2 years

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Answer 2

here is ur answer. ...