Adi borrowed Rs. 20,000 at 8% per annum for 2 years. How much interest does he have to pay after 2 years​

Question

Adi borrowed Rs. 20,000 at 8% per annum for 2 years. How much interest does he have to pay after 2 years​

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Audrey 4 weeks 2021-08-14T15:41:07+00:00 1 Answer 0 views 0

Answers ( )

  1. Charlotte
    0
    2021-08-14T15:42:29+00:00

    Answer:

    ₹3,200

    Step-by-step explanation:

    Simple interest = Principle × Rate of interest × Time ÷ 100

    Here , Principle = 20,000

    Rate of interest = 8%

    Time = 2

    Simple interest = 20,000 × 8 × 2 / 100

    = 20,000 × 8 = 1,60,000

    = 1,60,000 × 2 = 3,20,000

    = 3,20,000 ÷ 100

    = ₹3,200

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