Question

Rishav takes a loan of rupees 10000 from a bank for a period of 1 year. The rate of interest is 10%

Answer 1

Answer:

The simple interest on the given principal after 1 year = Rs. 1,000

The amount Rishav has to pay after an year  = Rs 11,000

Step-by-step explanation:

Here, the Principal amount taken = Rs 10,000

Rate of Interest = 10%

Time Period  = 1 year

Now, the SIMPLE INTEREST  = $\frac{P \times R \times T}{100}$

or, $SI = \frac{10,000 \times 10 \times 1}{100} = 1,000$

So, the simple interest on the given principal after 1 year = Rs. 1,000

Now, Amount = Principal + Simple Interest

or , A = 10,000 + 1,000 =  11, 000

Hence, the amount Rishav has to pay after an year  = Rs 11,000