Find interest and total amount - Interest - Consumer Arithmetic problem solver
A nationalised bank bank sanctioned Rs. 150000 (principal) as house Loan to Ramesh. If the rate of simple interest is 7.5 percentage for the period of 5 years (terms) find the simple interest and total cost (total cost) to be paid by Ramesh.
principal = 150000 rate = 7.5 terms = 5
simple interest = ( 150000 * 5 * 7.5 ) / 100 simple interest = 56250 So the simple interest is 56250 simple interest = 56250
total cost = 150000 + 56250 total cost = 206250 So the total cost is 206250
Interest Formulas :
CI = compound interest P = principal r = rate n = terms SI = simple interest d = difference tc = total cost m = margin mp = margin percentage emi = emi