Question

Pankaj borrowed $86500 to buy a used car and is charged the rate of interest 4.5%. if the term of his borrowing in 5 year, how much interest does he pay in total?​

Answer 1

$si \: = prt \div 100 \\ = 86500 \times 4.5 \times 5 \div 100 \\ = 19462.2$

he will have to pay $19462.2 as INTEREST