Sunitha borrowed 85000 Rs to buy a car and is charged a 4% rate of interest. if the time period of her borrowing is 5 years, how much interest does she pay total
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Answer:
Interest paid is 17,000
Step-by-step explanation:
Principal amount (P) = 85,000
Rate of interest (R) = 4%
Time period (T) = 5 years
Interest = PTR/100
=> Interest = 85000 x 5 x 4 / 100
Interest = 850 x 20
Interest = 17,000
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