Jamina takes Rs.10,000 at 12% per year as rate of interest, for 2years. How much interest he has to pay at end of two years?(solve the question with steps)
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Answer:
12,400
Step-by-step explanation:
Simple Interest = [Principal x Rate x Time]/100
Principal is 10000
Rate is 12%
Time is 2 years p.a
SI=PxRxT÷100
SI=10,000x12x2÷100
SI=Rs 2,400
Amount =10,000+2,400
=Rs 12,400
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