Question

Q7
Sonika borrowed 18000 from the bank for 2 years 6 months at 10% per annum. What amount
she will pay at the end?​

Answer 1

Answer:

The amount she pays at the end is ₹ 378000

Step-by-step explanation:

The simple interest is given by the formula:

A = P (1 + rt)

A = Final amount

P = Principal amount  = ₹ 18000

r = Interest rate  = 10%

t = time (in years)  = 2 years

On substituting the values in the formula, we get,

A = 18000 (1 + (10 × 2))

A = 18000 (1 + 20)

A = 18000 × 21

∴ A = ₹ 378000