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

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

the INTEREST will be $19462.2

Answer 2

Answer:

(well, that must be an expensive for a used car xd)

principal(p)= 86500

rate of interest (r) = 4.5%

time (t) = 5 years

provided you are talking about simple interest,

si= prt/100

= (86500 * 4.5 * 5 )/ 100

= 865 * 4.5 * 5

= 19462.5

aand, if it is compound interest (im not sure which, sorry),

a = p ( r + 1/100) ^ t

= 86500 (451/100) ^5

which is too complicated, so likely its not ci thats asked here

thanks and hope this helped :)