Question

Samrat took a loan of ₹ 48000 for motorcycle from PNB at the rate of 12% per annum for 4 years. What amount will he give to bank to clear off his debt​

Answer 1

Answer:

5760 is the ans

Step-by-step explanation:

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Answer 2

Given,

Samrat took loan of amount $48000$ rupees

$P=48000$

Rate of interest $12$ percent

$R=\frac{12}{100}$

Time taken to clear the loan is $4$ years

$T=4$

Formula for Simple Interest:

$S.I=PTR$

$=48000\times4\times \frac{12}{100}$

$=480\times4 \times 12$

$=23040$

Now we have to find out the total amount

Total amount=Simple interest + loan amount

$=23040+48000$

$=71040$

Therefore, the total amount that he has to give to bank to clear his debt is $71040$.