Rohit borrows rs 640000 from a bank to buy a car at the rate of 12% per annum for 5 years Find the amount of money Rohit must repay to the bank
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Answer:
₹ 988000
Step-by-step explanation:
P -- ₹ 640000
R -- 12%
T -- 5 years
SI = (P×R×T/100)
= (640000 x 12 x 5/100)
= 6400 x 12 x 5
= ₹ 384000
Amount = SI + P
= 384000 + 640000
= ₹ 988000
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