Rahul borrowed $R s 20, 000$ from Rampal at $18 %$ per annum on simple interest. Find the total amount he has to pay after $2$ years.

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Solution

Given,
Principal, $p = R s .20, 000$
Rate of interest, $r = 18 %$
Time, $t = 2 y e a r s$

We know that,
$\begin{matrix} S I = \frac{p \times r \times t}{100} N o w, S I = \frac{20000 \times 18 \times 2}{100} = 7200 \end{matrix}$ .
Total amount after $2$ years is $= P r i n c i p a l + I n t e r e s t = R s . (20, 000 + 7200) = R s . (27, 200)$

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Rahul borrowed Rs 20,000 from Rampal at 18% per annum on simple interest. Find the total amount he has to pay after 2 years.

Given,Principal, p=Rs.20,000Rate of interest, r=18%Time, t=2 yearsWe know that,SI=p×r×t100Now,SI=20000×18×2100=7200.Total amount after 2 years is =Principal+Interest=Rs.(20,000+7200)=Rs.(27,200)

Rahul borrowed $R s 20, 000$ from Rampal at $18 %$ per annum on simple interest. Find the total amount he has to pay after $2$ years.