Rohit borrows ₹6,40,000 from a bank to buy a car at the rant of 12%per annum for 5 years. Find the amount of money Rohit must repay to the bank.
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Answer:
Step-by-step explanation:
P- 640000 Rs.
R- 12%
T- 5 years
S.I = (PRT)/100
= (640000 x 12 x 5)/100
=6400 x 12 x 5
= Rs. 384000
Amount= SI + P
=384000+640000
= Rs. 988000
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