Question

Anita takes a lone of Rs. $5000$ at $15$% per year as rate of interest. Find the amount she has to pay at end of $2$ year.

Answer 1

$P=Rs.5000$ $R=15$% $T=2$year

$SI=\frac{P\times R\times T}{100}=\frac{5000\times 15\times 2}{100}=30\times 50=Rs.1500$

Amount$=P+SI=Rs.5000+Rs.1500=Rs.6500$