Question

mach borrowed ₹18000 from a bank and repaid it after 9 months. If the bank charges interest at the rate of 12%p.a., how much interest did Mach pay?​

Answer 1

Answer:

Principal = ₹18000

Rate p.a. = 12%

Time = 9 months = 9/12 years = 3/4 years

S.I. =  $\frac{PRT}{100}$

     =  $\frac{18000*12*3}{100*4}$

     =   ₹1620

Amount = P + S.I.

             = ₹18000 + ₹1620

             = ₹19620

Mach has to return ₹19620 after 9 months .

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