Sahil borrowed 120000 rupees from a bank for 4 years at the rate of 8.5p.c.p.a. to start a new business. a)Calculate the interest . b)What is the total amount he returned to the bank at the end of that period ?
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Step-by-step explanation:
ANSWER A :-
S.I = PRINICIPLE*RATE OF INTEREST*NO.OF YEARS /100
S.I = 120000*8.5*4/100
S.I = 1200*34
S.I = 40800
ANSWER B:-
TOTAL AMOUNT = INTEREST + PRINCIPLE
TOTAL AMOUNT= 40800+120000
TOTAL AMOUNT= 160800
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