Question

A car dealer borrows ₹20,000 from a bank for a period of 2 years at a simple interest rate of 8% per annum. If he repays the loan in full at the end of the 2 year period, how much will he have to pay?

A ₹3,600
B ₹23,600
C ₹23,200
D ₹3,200
Practice Next

Relevant for Exams:

Hey! Ask a query