Answer:
62.5 interest on 2500 loan
Step-by-step explanation:
Given that,
amount of loan bank has granted = 2500
number of years = 90 days
90 days = 3 month
3 months = 1/4 year = 0.25 year
interest rate = 10%
= 10 / 100
= 0.1
Formula to use
Principal * interest rate expressed as a decimal * time in years
2500 * 0.1 * 0.25
62.5
Hence, the interest on the loan of 2500 with 10% interest rate for 90 days is 62.5
