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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Step-by-step explanation:
The amount, that is, the total
money owed to the bank at the
end of the time, is to be
calculated here. The principal is
50000 rupees. At 12 p.c.p.a.,
the interest on 100 rupees for
one year is 12 rupees. We shall
write the ratio of interest to
capital in two ways to obtain an
equation.
On 50000 rupees let the interest be x rupees.
On 100 rupees the interest is 12 rupees.
x
50000 = 12
100
x
50000 × 50,000 = 12
100 × 50,000 (Multiplying both sides by 50000)
x = 6000
Amount (to be returned to the bank) = principal + interest
= 50,000 + 6,000
∴ Amount to be returned to the bank = ` 56,000
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