Question

prathibha borrows 47000 from a finance company to buy her first car. the rate of simple interest is 17% and she borrows the money over a 5 years period. a) how much amount should repay the finance company at the end of 5 years .b) her equal monthly repayments.
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Answer 1

Answer:

pratibhaa Is a book noob

Answer 2

Answer:

Given,

Pratibha borrows Rs47000 form finance

company to buy her first car so the principal will be = 47000

simple interest = 17%

time for which money is borrowed = 5

years

$\frac{Simple Interest= principal \times time \times rate}{100}$

$= \frac{4700 \times 5 \times 17}{100} = 39950$

The amount of money Pratibha will repay the finance company at the end of five years will be

= (47000+ 39950)

= Rs.86950