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A bank loans a sum of Rs 100,000 at an interest rate 5 % per annum for 2 yeras.Calculate its simple interest and the total amount to be paid to the bank. Show your working below, or attach a picture of
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A bank loans a sum of Rs 100,000 at an interest rate 5 %

per annum for 2 yeras.Calculate its simple interest and
the total amount to be paid to the bank.
Show your working below, or attach a picture of your
solution.​

User Alexander Lutsenko
by
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1 Answer

5 votes

Answer:Discussing interest starts with the principal, or amount your account starts with ... For longer term loans, it is common for interest to be paid on a daily, monthly, ... Interest rates are usually given as an annual percentage rate (APR)—the total ... In the below formula, “m” represents number of compounding periods per year and .

Explanation:

User MaDa
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