Question

Mr. vivek borrowed Rs. 22000 from a bank at 8% per annum. What amount must be pay to the bank if he repays the loan in 2 years ,3 years 9 months .​

Answer 1

Given:

M.r Vivek borrowed R.s 22000 from bank at 8% p.c.p.a

$simple \: interest \: = \frac{p \times r \times t}{100}$

so for 2 years interest :

$simple \: interest \: = \frac{22000 \times 8 \times 2}{100 } \\ simple \: interest \: = 220 \times 8 \times 2 \\ \: \: \: \: \: = 3520$

simple interest for 3 years :

$simple\: interest\: = \frac{22000 \times 8 \times 3}{100 } \\ simple \: interest \: = 220 \times 8 \times 3 \\ \: \: \: \: = 5280$

simple interest for 9 months

as there are 12 months = 1 years

9 months = 0.75 years

while rate is given for annual interest so

$rate = \frac{8}{100} = 0.008$

simple interest = 22000 × 0.008 × 0.75

simple interest = 132 .