A man took a loan of z1,200 from a co-operative bank on 12th January, 2003. He repaid the loan on 7th June of the same year. Find the interest he had to pay for the loan if the rate of interest is 7/2% p.a.
1 thought on “A man took a loan of z1,200 from a co-operative bank on 12th January, 2003.<br />He repaid the loan on 7th June of the same year.”
Given :- A man took a loan of z1,200 from a co-operative bank on 12th January, 2003. He repaid the loan on 7th June of the same year. Find the interest he had to pay for the loan if the rate of interest is 7/2% p.a.
Answer :-
→ Time = from 12 jan to 7 june = 19 + 28 + 31 + 30 + 31 + 7 = 146 days .
Abhishek invested some amount for 3 yrs at rate of 16(2/3)% per annum at Cl. The difference of CI obtainedonly on 3r… https://brainly.in/question/38286271
Given :- A man took a loan of z1,200 from a co-operative bank on 12th January, 2003. He repaid the loan on 7th June of the same year. Find the interest he had to pay for the loan if the rate of interest is 7/2% p.a.
Answer :-
→ Time = from 12 jan to 7 june = 19 + 28 + 31 + 30 + 31 + 7 = 146 days .
so,
→ Simple interest = (P * R * T)/100 = (1200 * 7 * 146)/ (100 * 2 * 365) = (6 * 7 * 2) / 5 = Z16.8 (Ans.)
Learn more :-
CI in 2yr is Rs. 1600 and in 3 yrs it will be Rs. 1700. Find the rate of interest. https://brainly.in/question/324633017.
Abhishek invested some amount for 3 yrs at rate of 16(2/3)% per annum at Cl. The difference of CI obtainedonly on 3r… https://brainly.in/question/38286271