Question

Karan borrowed Rs. 28590 from a finance company at a rate 22 percent per annum. Find the amount he has to pay the end of five years.​

Answer 1

Question :

Karan borrowed Rs. 28590 from a finance company at a rate 22 percent per annum. Find the amount he has to pay the end of five years.

Answer :

$\sf\pink{Given:}$

• Principal is 28590 .

• Rate is 22 % per year.

• Number of years is 5 .

$\sf\pink{To\:find:}$

• Amount ?

Explanation :

Amount = principal + simple interest

So we need to first find the simple interest.

$\sf{SI = \dfrac{P\times N\times R}{100}}$

Here ,

• SI means simple interest.

• P means principal

• N means number of years

• R means rate of interest.

$\\ \longrightarrow\sf{\dfrac{28590\times 5\times 22}{100}}$

$\\ \longrightarrow\sf{\dfrac{2859\times 5\times 22}{10}}$

$\\ \longrightarrow\sf{\dfrac{2859\times 110}{10}}$

$\\ \longrightarrow\sf{2859\times 11}$

$\\ \longrightarrow\sf{31449}$

• Therefore simple interest is 31449.

Amount = Simple interest + principal

$\\ \longrightarrow\sf{31449 + 28590}$

$\\ \longrightarrow\sf{60039}$

• Therefore amount is 60039 .

Answer 2

Answer:

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