Question

Mike borrowed a sum of rs 9450 for 5 years at a rate of 6% per year. calculate the total amount that he had to pay.

Answer 1

Explanation:

principal=rs 9450

time=5 years

rate=6%

Interest=PTR/100

=9450*5*6/100

=283500/100

=rs 2835

Total amount=Interest+principal

=rs 2835+rs 9450

=rs12285