Q.2. Answer
Answer the following word problems &
1. Vinita borrowed Rs 36,000 at 6 p:cipua for
a year . How much interest will he pay to
the bank at the end of the year! step by step exaplaintion
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Answer:
Formula for Simple interest : I=P × R × T/100
I=100P×R×T
where P= Principa
lR =Rate of interest
T=Time
As per given ,
we haveP= Rs. 36000
R = 6%
T= 4 years
Put these values in above formula , we get
I=36000 × 6 × 4/100
100/36000×6×4=8640
Total amount has to pay along principal = Rs 36000+Rs 8640= Rs44640
Hence, Vinita has to pay Rs 44640.
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