Sathvik borrowed a sum of rupees 3,00,000 from a bank and paid interest of rupees 36,000. Swetha took rupees 7,00,000 from the same bank for the same time period. How much interest should Swetha pay for the bank?
Answers
Answer:
Step-by-step explanation:
37
37x3
=111
Answer:
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Class 11
>>Applied Mathematics
>>Basics of financial mathematics
>>Accumulation with simple and compound interest
>>Sandeep borrowed Rs. 3000 for 4 years an
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Sandeep borrowed Rs. 3000 for 4 years and Rs. 8000 for 2
2
1
years from Sonia at the same rate of interest. The total interest earned by Sonia is Rs. 2880. Find the rate of interest.
Medium
Solution
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Let the rate of interest be equal to r.
As we know that,
Simple interest=
100
Principle×rate×time
By using the above formula and given information that the total interest is equal to Rs. 2880,
Total interest
2880
320r
r
r
=
100
3000×r×4
+
100
8000×r×
2
5
=120r+200r
=2880
=
320
2880
=9%