Question

Jimmy takes a loan of 10,000$ at 12% per year as rate of interest . Find the amount, he will be required to pay after 1 year to settle the loan .

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Answer 1

1200 I THINK

Explanation:

Answer 2

Answer :-

• 11200

Step by step explanation :-

Here,

• Principal = 10,000
• Time = 1 year
• rate = 12 %

The intrest payable on 100$ for 1 year = 12 $

The interest payable on 10,000$ borrowed for 1 year

• 
  `( (12)/(100) * 10000)`
• 
  `1200`

so, at the eand of the year , he has to give an amount of $ ( 10,000 + 1200 )

• 11200 $