Question

Jethalal took a housing loan of 250000 rupees from a bank at 10 p.c.p.a for 5 year what is the early interest he must pay and the total amount he returned to the bank?​

Answer 1

Answer:

Given

Principal (P) =  Rs 2,50,000

Rate of Interest (R) = 10 %

Time (T) = 5 years

Now

Total Interest (I) = $250000*10*5/100$

                           = $12500000/100$

                           = Rs 125000

Again

Total Amount = P+I

                        = $250000+125000$

                       = Rs 375000

Hence ,

Jethalal will have to pay Rs 125000 as an interest and 375000 as the total amount to the bank.