Question

Mr. Narayanan took a loan of 80000 for the construction of his house. Find the interest has to pay after 8 years at the rate of 12% per annum.​

Answer 1

Answer:

Mr. Narayan has to pay interest of Rs. $76800$.

Step-by-step explanation:

Given : Mr. Narayan took a loan of = Rs. $80000$

           Time period = $8$ years

          Rate of interest = $12$%

To find : Simple interest =?

Solution :

• It is given that Mr. Narayan took a loan of = Rs. $80000$

               Time period = $8$ years

               Rate of interest = $12$%      

• We have to find the simple interest.
• To find the simple interest, formula is given by

      Simple interest = $\frac{P*R*t}{100}$

                             =  $\frac{80000*12*8}{100}$

                             = $\frac{7680000}{100}$

                             = Rs. $76800$

• ∴ Mr. Narayan has to pay interest of Rs. $76800$.