Question

Chaitanya borrows Rs.45,000 from a bamk at 12% per annum. What amount will have pay to the bank id he repays the loan in (i) 6 months, (ii) 3 months and (iii) $1\frac{1}{2}$ years?

Answer 1

P = Rs.45,000 ,R = 12%

i) T = 6 months = $\frac{1}{2}$ years

Simple interest = $\frac{P\times R\times T}{100}=\frac{4500\times 12\times \frac{1}{2}}{100}$

= RS. 2700

Amount = P + SI = Rs. 47,700

ii) T = 3 months = $\frac{1}{4}$ yrs.

$S.I=\frac{45000\times 12\times \frac{1}{4}}{100}=Rs.1350$

Amount = Rs.1350 + 45000

= Rs.46350

iii) $T=1\frac{1}{2}$ yrs.

$SI=\frac{45000\times 12\times \frac{3}{2}}{100}=Rs.810$

Amount = Rs.53100