Sumit borrowed 16000 for his son's marriage and repaid the loan after 3 years. if simple interest at the rate of 6.25% was charged, what additional money he had to pay?
Answer is 18000
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Answer:
Amount (A)=Rs19000
Explanation:
Principal (P)=Rs16000
Time(T)= 3 years
Rate of interest (R)=6.25%
Let the simple interest = I
=> I = (PTR)/100
= (16000×3×6.25)/100
I = Rs 3000
Amount (A) = P + I
= 16000 + 3000
= Rs 19000
••••
Amount (A)=Rs19000
Explanation:
Principal (P)=Rs16000
Time(T)= 3 years
Rate of interest (R)=6.25%
Let the simple interest = I
=> I = (PTR)/100
= (16000×3×6.25)/100
I = Rs 3000
Amount (A) = P + I
= 16000 + 3000
= Rs 19000
••••
shreya08:
16000+3000=19000 .....u don't know how to calculate..!!
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