Question

Pratibha borrows
47000 from a finance company to buy her first car rate of simple interest is 17% and she was the money every five year period find how much amount Pratibha should repay the finance company at the end of 5 years

Answer 1

Cost of the car = Rs 47,000

Interest rate = 17% per year.

Find the interest per year:

17% interest = 0.17 x 47000 = Rs 7990

Find the interest for 5 years:

1 year = Rs 7990

5 years = 7990 x 5 = Rs 39950

Find the total amount payable:

Total amount = Cost of the car + Interest for 5 years

Total amount =47,000 + 39950  = Rs 86950

Answer: The total amount payable is Rs 86950