Question

Suresh borrowed Rs. 500000 from a bank at 11% pa simple interest After 5 years, be paid Rs. 3.75.000. Find the amount Suresh will have to pay to clear the loan after 2 years then​

Answer 1

Answer:

$simple \: interest = \frac{p \times r \times t}{100} \\ \frac{500000 \times 11 \times 2}{100} \\ 5000 \times 11 \times 2 = 110000$

Interest=₹110000

Now finding amount

Amount=P+I

500000+110000

₹610000

Hence suresh will have to pay to clear the loans after 2 years will be ₹610000.

Answer 2

Given : Suresh borrowed Rs. 500000 from a bank at 11% pa simple interest

After 5 years, be paid Rs. 3.75.000.

To Find :  the amount Suresh will have to pay to clear the loan after 2 years then​

Solution:

P = 500000  Rs

R = 11 %

T = 5  

SI = P * R * T/100

= 500000 * 11 * 5 /100

= 275000   Rs

After 5 years, be paid Rs. 375000

Amount Left  = 500000 + 275000 - 375000

= 400000 Rs

Interest in Next 2 years

= 400000 * 11 * 2/100

= 88000

Amount to be Paid =  400000 + 88000

= 488000 Rs

amount Suresh will have to pay to clear the loan after 2 years = 488000 Rs

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