A sum of ₹10,000 is borrowed at a rate of interest 15% per annum for 2 years. Find the amount to be paid at the end of 2 years.

₹13,000

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₹12,800

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₹13,100

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₹12,900

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Solution

The correct option is A
₹13,000

The simple interest to the sum ₹10,000 for 2 years at a rate of interest 15% per annum is $\frac{10, 000 \times 2 \times 15}{100} = 3, 000$
So, the interest will be ₹3,000 at the end of 2 years.
Hence, amount will be 10,000 + 3,000 = 13,000 at the end of 2 years.

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A sum of ₹10,000 is borrowed at a rate of interest 15% per annum for 2 years. Find the amount to be paid at the end of 2 years.

The correct option is A ₹13,000 The simple interest to the sum ₹10,000 for 2 years at a rate of interest 15% per annum is 10,000 × 2 × 15100 = 3,000 So, the interest will be ₹3,000 at the end of 2 years. Hence, amount will be 10,000 + 3,000 = 13,000 at the end of 2 years.