ruhi obtained a loan of rupees 55000 from a national bank to renovate her house.if the rate of interest is 12% per annum,what amount will she have to pay to the bank after 3years to discharge her debt?
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So,
55000÷12×3=13750
55000÷12×3=13750
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Principal:=55000
rate of interest is 12%
rate=3year
Simple Intereest =[P x R x T] ÷100
si=[55000×3×12]÷100
Simple Intereest=550×3×12
Simple Intereest=19800
amount=P+SI=55000+19800
amount=74800 ANS
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