Prathibha borrows rupees 47000 fron a finance company to buy her first car. The rate of simple interest is 17% and she borrows the money over a 5 year period. Find: ( a ) How much much amount Prathibha should repay the finance company at the end of five years. ( b ) her equal monthly repayments?
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Rate of interest =17%
Time=5years
S.I=P[1+RT/100]
4700[1+13multiplied by5/100]
47000[185/100]
SA=Rupees 86950
Monthly payment =86950/12multiplied by5
Your answer is rupees1449.1
Time=5years
S.I=P[1+RT/100]
4700[1+13multiplied by5/100]
47000[185/100]
SA=Rupees 86950
Monthly payment =86950/12multiplied by5
Your answer is rupees1449.1
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