Sarita took a loan of 20,000 from a bank for 2 years at 12% per year. What interest will she pay for 2 years? To clear the entire debt, how much money does she need to pay to the bank?
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Answer:
i)4,800 ii)Rs.24,800
Step-by-step explanation:
Its a case of simple interest,where:
P=rs.20,00 T=2yr R=12%
We know
SI=P×R×T/100
=20000×2×12/100
=200×2×12
=Rs.4800
She'll pay Rs.4,800 as a interest after the end of 2 yrs.
The debt she'll have to clear will be =
20000+4800
24,800
HOPE ITS HELPS U
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