Question

Mailadai took a loan of Rs. 18000 from a bank at the rate of 6.6%. How much interest.he have to pay after 30 months?

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Answer 1

Rs. 2970 is the interest

Explanation:

30 months is same as 30/12 = 2.5 months

I = PRT/100

P is 18000

R is 6.6%

T is 2.5 years

Substitute all these

I = (18,000 * 2.5 * 6.6)/100

= 2970