Question

Harish borrowed rupees 15000 from Subhash at 16% per annum for 7.2 years find the interest and the amount paid by Harish to Subhash​

Answer 1

The interest is Rs.17280.

The amount is Rs.32280

Explanation:

Given : Harish borrowed rupees 15000 from Subhash at 16% per annum for 7.2 years.

To find : The interest and the amount paid by Harish to Subhash​ ?

Solution :

Using interest formula,

`SI=P* R* T`

Where, P is the principal P=Rs.15000

R is the interest rate R=16%=0.16

T is the time T=7.2 year

Substitute the values,

`SI=15000* 0.16* 7.2`

`SI=17280`

The interest is Rs.17280.

The amount is given by,

Amount = Interest +Principal

Amount = 17280 +15000

Amount = Rs.32280