Question

Raju has taken a loan of Rs.4500 from a Bank at 10% interest rate for 2 years. How much amount should he pay at the end of 2 years? ​

Answer 1

Answer:

Weknow,

Principal=RS 4500

Rate= 10%

Time= 2 years

Simple Interest = ?

Simple Interest = P×T×R

                              100

                        4500×10×2

                               100

=RS 900

Now,

Amount= Principal+Interest

            = RS 4500 + 900

            = RS   5400

Therefore,

Raju will have to pay Rs  5400 at  the end of 2 years.