Question

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

Answer 1

HEY DEAR ...

P = Rs. 47000
R% = 17%
T = 5years

SI = PRT/100
SI = 47000×17×5/100
SI = Rs. 39500

A = P+SI
A = 47000+39500
A = Rs. 86950

Monthly Repayments = 86950÷12
= Rs. 7245.8

HOPE , IT HELPS ...

Answer 2

Money to be repayed= simple interest and principle=39950+47000=86950 Monthly repayments=86950/120=724.58