Question

Q1) Rahul borrowed Rs 16000 from the bank for 5 years at rate of 2 3/4 % p.a. find the interest payable by him ?​

Answer 1

Answer:

Interest=Rs. 2200      Amount=Rs. 18200

Step-by-step explanation:

Hope this answer helps you my friend...

Principle=16000      Rate per annum=2 3/4%      Time=5yrs

                                                           =11/4%

By sum,

Simple Interest=Rs.(P*T*R/100)

                        =16000*11/4*5/100

                        =16000*11*5/4*100

                        =Rs. 2200

Amount=Principle + Simple Interest

            =16000+2200

            =Rs. 18200