Question

11. Sara borrowed *60,000 from a money lender at 15% rate of interest per annum. What is

the interest she paid after 4 years?​

Answer 1

36000

Explanation:

Given the following

Principal = 60,000

Rate = 15%

Time = 4years

Using the simple interest formula

SI = PRT/100

SI = 60000*15*4/100

SI = 600 * 60

SI = 36,000

Hence the interest paid after 4 years is 36000