Answer:
The interest is Rs.17280.
The amount is Rs.32280
Step-by-step explanation:
Given : Harish borrowed rupees 15000 from Subhash at 16% per annum for 7.2 years.
To find : The interest and the amount paid by Harish to Subhash ?
Solution :
Using interest formula,
[tex]SI=P\times R\times T[/tex]
Where, P is the principal P=Rs.15000
R is the interest rate R=16%=0.16
T is the time T=7.2 year
Substitute the values,
[tex]SI=15000\times 0.16\times 7.2[/tex]
[tex]SI=17280[/tex]
The interest is Rs.17280.
The amount is given by,
Amount = Interest +Principal
Amount = 17280 +15000
Amount = Rs.32280
