Suhani takes a loan of ₹65,000 at a rate of simple interest of 6% per year. Thus, at the end of the year, she will pay ₹ as interest.
Question
Solution 1
To calculate the simple interest, we use the formula:
Interest = Principal x Rate x Time
In this case, the principal is ₹65,000, the rate is 6% (or 0.06 when expressed as a decimal), and the time is 1 year.
So, the interest Suhani will pay at the end of the year is:
Interest = ₹65,000 x 0.06 x Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
Similar Questions
Suhani takes a loan of ₹65,000 at a rate of simple interest of 6% per year. Thus, at the end of the year, she will pay ₹ as interest.
Jenna borrowed Php 5,000 for 3 years and had to pay Php 1,350 simple interest at the end of that time. What rate of interest did she pay?
A young engineer borrowed P12,000 at an interest rate of 10 percent per annum. Find the lump sum that he will pay at the end of 4 years.
What annually compounded rate per year will give the same value at the end of 10 years as 7% p.a. simple interest?
Ayesha borrows some money at a rate of simple interest of 12% per year.This means that on every ₹ borrowed, ₹12 is the interest she has to pay in a year.