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 ______?
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 ______?
Explanation
Interest = Principal × Rate × Time
= 250,000 × 0.12 × 4
= 250,000 × 0.48
= 120,000