Question

Mr phuken has borrowed ₹25000 from his brother in law 8.5% per annum. How much interest would he have to pay over a period of 18 months? ​

Answer 1

Answer:

Mr Phuken has borrowed=₹2500 (Principle)

The Rate Percent Per Annum= 8.5%

The Time Taken To Pay The Amount=18 months=1\frac{1}{2}

2

1

Years

The Interest= \frac{Principal*Time *Rate Percent }{100}

100

Principal∗Time∗RatePercent

=\frac{2500*1whole 1/2*8.5}{100}

100

2500∗1whole1/2∗8.5

=\frac{1275}{4}

4

1275

=318.75‬

Answer 2

Answer:318.75

Step-by-step explanation:

Mr.Phuken has barrow= ₹25000 (principal)

The rate percent per annum = 8.5%

The time taken to pay the amount =18 months ( 1 and half year)

The interest = (principal * Time * rate percent)/ 100

(2500*1 whole 1/2 *8.5)/100= 318.75