Rishav takes a loan of Rs 10000 from a bank for a period of 1 year. The rate of interest is 10% per annum. Find the interest and the amount he has to the pay at the end of a year.
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Step-by-step explanation:
Solution:
Here, the loan sum = P = Rs 10000
Rate of interest per year = R = 10%
Time for which it is borrowed = T = 1 year
Thus, simple interest for a year, SI = (P × R ×T) / 100 = (1000× 100 ×1) / 100 = Rs 1000
Amount that Rishav has to pay to the bank at the end of the year = Principal + Interest = 10000 + 1000 = Rs 11,000
Answered by
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Step-by-step explanation:
loan sum= Rs 10000(P)
Rate of interest per year =( R )= 10%
ime for which it is borrowed = (T) = 1 year
Thus, simple interest for a year, SI = (P * R XT) / 100 = (1000x 100 x1) / 100 = Rs1000
hence Amount that Rishav has to pay to the bank at the end of the year = Principal + Interest = 10000 + 1000 = Rs 11,000
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