Asad borrowed 250,000 from the bank at the rate of 12% per annum for four years. The interest paid to the bank after four years would be ______?
Answer: 120000
Explanation
Interest = Principal × Rate × Time
= 250,000 × 0.12 × 4
= 250,000 × 0.48
= 120,000
This question appeared in
Past Papers (6 times)
IBA STS 25 Years Past Papers Subject Wise (Solved) (2 times)
IBA STS Past Papers, Syllabus, Jobs (2 times)
IBA STS Screening Test Bps 05 to 15 Past Papers and Syllabus (2 times)
This question appeared in
Subjects (1 times)
MATHS MCQS (1 times)
Related MCQs
- A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:
- Hassan borrowed 5000 with simple interest for five years. He paid an extra 500 then how much percent he pays per annum?
- Parveen invested a sum of money at compound interest. It amounted to Rs.2420 in 2 years and to Rs.2662 in 3 years. Find the sum and the rate percent per annum.
- Mr. Ali borrows RS. 500 from bank for a period of 4 years. If interest rate is 11% per anum, what would be the amount of interest he has to pay back in addition to the principal amount?
- In June 2022, The central bank of which country central announced its biggest interest rate rise in nearly 30 years?
- The principal, which will amount to Rs. 270.40 in 2 years at the rate of 4% per annum compound interest is?
- What annual payment will discharge a debt of Rs 1025 due in 2 years at a compound interest rate of 5% per annum?
- Kriya deposits an amount of RS. 65800 to obtain a simple interest at the rate of 14% per annum for four years
- A man purchased a cow for Rs. 3000 and sold it the same day for Rs. 3600, allowing the buyer a credit of 2 years. If the rate of interest be 10% per annum, then the man has a gain of:
- Rs. 1200 is lent out at 5% per annum simple interest for 3 years. Find the amount after 3 years.
