Question

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. ​

Answer 1

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