Mohan borrowed rupees 36000 from a bank for 8 months at 10% per annum. Find the interest he will pay.
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ANSWER
Given,
- Mohan borrowed ₹36000
- For 8 months
- At 10% per annum
- Interest = ?
Solution,
Converting 8 months to years we get,
8÷12=2÷3
We know that,
=> 36000×2/3×10÷100
=>120×2×10
=>₹2400
Conclusion,
So Mohan should pay ₹2400 as interest
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