Question

Ram borrowed rupees 8000 from bank for 3 years at 8% per annum find the amount he will have to pay after the specified time​

Answer 1

Answer:

Step-by-step explanation:

The total payment amount is ₹10880.

Given data :

Borrowed money = ₹8000

Interest rate =8%

Time = 4½ years = 4.5 years

So, interest = (principal amount × rate × time)/100 = (8000×8×4.5)/100 = ₹2880

So,the total payment amount = ( Principal amount + Interest) = (8000+2880) = ₹10880 (answer)

Answer 2

Answer:

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