loan of 15 000 is taken out If the interest rate on the loan is 7 how much interest is due and what ...........

Quant (SSC) Simple Interest

loan of $15 000 is taken out. If the interest rate on the loan is 7%, how much interest is due and what is the amount repaid if the loan was taken out on April 7 and is due in seven months

13615.52

14615.52

15615.52

16615.52

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Explanation:

I = prt = [15000 × 0.07 × (214/365) ]=615.52
Future value, S = P + I = $15 000 + $615.52 = $15 615.52

By: MIRZA SADDAM HUSSAIN

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loan of 15 000 is taken out If the interest rate on the loan is 7 how much interest is due and what ...........

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