Question

Ram took a loan of Rs.50,000 from a bank at 7% per year at simple interest for 5
years. Find the interest and amount he will pay at the end of 5 years.

Answer 1

Answer:

S.I. = Rs 17,500

Amount = Rs 67,500

Step-by-step explanation:

SIMPLE INTEREST = P * R * T / 100 = 50,000 * 7 /100 * 5 = Rs 17,500

AMOUNT = SI + PRINCIPAL = 17500 + 50000 = Rs 67,500