Question

Two friends together took a loan amount of ₹ 15,000 to run a business from a bank at the rate of simple interest of 12% per annum. Let us write, by calculating, the interest they have to pay after 4 years

December 26, 2023

Answer

Here principal (P) = ₹ 15,000

Rate (r) = 12%

Time (t) = 4 years

Simple Interest (I) = $\frac{\text { Prt }}{100}$

= ₹ $\frac{15000 \times 12 \times 4}{100}$

= ₹ 7200 Ans

💡 Some Related Questions

Let us write the number of years for which a principal becomes twice of its amount having the rate of simple interest of 6 $\frac{1}{4} %$ per annum

The ratio of the principal and the amount (principal along with interest) in 1 yr is 8 : 9; the rate of simple interest per annum is ___

The amount of ₹ 2p in t years at the rate of simple interest of $\frac{r}{2}\%$ per annum is Rs .(2p + _________).

FIB : A man who gives a loan is called _________

State True or Fale : If the principal and the rate of simple interest in percent per annum be constants, then the total interest and the time are in inverse relation

State True or False : A man who takes a loan is called a debtor.

The total interest of a principal in n years at the rate of simple interest of r% per annum is $\frac{p n r}{25}$ , the principal will be (a) ₹ 2p (b) ₹ 4p (c) ₹ $\frac{p}{2}$ (d) ₹ $\frac{p}{4}$

The simple interest at x % for x years will be Rs x for a principal amount of

If a principal becomes twice of its amount in 10 years, the rate of simple interest per annum is (a) 5% (b) 10% (c) 15% (d) 20%

A principal becomes twice of its amount in 20 yrs at a certain rate of simple interest. At the same rate of simple interest, that principal becomes thrice of its amount in (a) 30 years (b) 35 years (c) 40 years (d) 45 years