Question

Khairul takes a loan for RM30 000.The bank charges him a simple interest of 6.2% .If he has to pay the bank RM30 100 find the term of the loan

Answer 1

I = PRT

in your case, I = 100, R = .062, P = 30000, T = ?
100 = 30000(.062)T
T = 100/(30000*.062) = .05376 years = 19.6 days
looks like 20 days.