Question

Jethalal took a housing Loan of 250000
Rupees from a bank at 10 p. c. p. a. For 5 years. What is the yearly interest he must pay and the total amount he returns to the bank

Answer 1

Borrowed Amount = 250000 (P)
Interest Rate = 10% (I)
Number of years = 5 (N)

Yearly Interest = (P*I*N) /100 = (250000*10*1)100 = 25000

Therefore Interest for 5 years = 5*25000 = 125000

Total amount payable after 5 years = Borrowed + Interest = 250000 + 125000 = 375000

Answer 2

Answer:

Yearly interest is 25000 and total amount Jethalal will return to the bank is 3,75,000.

Step-by-step explanation:

Given:- Principle (P) =2,50,000

Interest (I) = 10%

Time (T) = 5 years

To find:-1) Yearly Interest

2) Total amount Jethalal will return to the bank.

Solution:- Yearly interest= P×I×T/100=

2,50,000×10×1/100= 25,000

Therefore interest of 5years=5×25,000=1,25,000

Total amount to be paid=P+I=

2,50,000+1,25,000=3,75,000

Therefore Yearly interest is 25,000 and total amount Jethalal will return to the bank is 3,75,000 rupees,

Hope it helps ☺