Rajan borrowed Rs. 15000 from a cooperative bank for business purpose. – InterviewSolution

InterviewSolution

1.

Rajan borrowed Rs. 15000 from a cooperative bank for business purpose. The bank computes 9% interest. How much money she has to repay after 5 months.

Answer»

Amount borrowed = Rs. 15000

Rate of interest = 9%

Time duration = 5 month months Interest .

= 15000 × \(\frac{9}{100}\) × \(\frac{5}{12}\) = 562.50

Amount he has to repay

= 15000 + 562.50

= Rs 15562.50

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