Question

Shyam borrowed rupee 450000 from a bank for 3 years at the rate of 10pcpa.How much amount he has to pay as a interest for each year? What is the total amount he paid to the bank?

Answer 1

P=450000 ,T=3years ,R=10% p.a.
I=PTR/100=450000×3×10/100
=135000
Each year interest=135000/3=45000
Total amount=585000