Question

Anita borrowed $Rs.7000$ from a bank for $1\frac{1}{2}$ years at $11\%$ per annum. Find the amount she has to return to the bank at the end of the $1\frac{1}{2}$ years.

Answer 1

Given,

$P=7000R=11T=\frac{3}{2}$

We know that,

$SI=\frac{PRT}{100}$

$I=\frac{7000\times 11\times \frac{3}{2}}{100}$

$=35\times 11\times 3=1155$

$A=P+I$

$A=7000+1155=8155$