Question

Neha took a loan of 50000 rupees at 12 p.c.p.a. to buy a two wheeler. What
amount will she return to the bank at the end of one year?
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Answer 1

Answer:

WE WILL PUT THE FORMULA OF SIMPLE INTEREST THAT IS

P×T×R/100 WHERE P IS 50000, TIME IS 1 YEAR AND RATE IS 12%

50000×12×1/100 is equal to rs 6000

AMOUNT IS PRINCIPAL + AMOUNT

50000+6000 = 56 000