Harish borrows $2, 500$ at 3 $%$ per annum for $1$ st year and $21, 000$ at 5 $%$ per annum interest for $2$ nd year. What interest will Harish have to pay after two years?

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Solution

Given,
$P_{1} = 2500 R_{1} = 3 P_{2} = 21000 R_{2} = 5 T = 1$

$I_{1} = \frac{P_{1} R_{1} T}{100} = \frac{2500 (3)}{100} = 75$

$I_{2} = \frac{P_{2} R_{2} T}{100} = \frac{21000 (5)}{100} = 1050$

$I = I_{1} + I_{2} = 75 + 1050 = 1125$

Interest will Harish have to pay after two years is Rs. $1125$ .

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Harish borrows 2,500 at 3% per annum for 1st year and 21,000 at 5% per annum interest for 2nd year. What interest will Harish have to pay after two years?

Given,P1=2500R1=3P2=21000R2=5T=1I1=P1R1T100=2500(3)100=75I2=P2R2T100=21000(5)100=1050I=I1+I2=75+1050=1125Interest will Harish have to pay after two years is Rs. 1125.

Harish borrows $2, 500$ at 3 $%$ per annum for $1$ st year and $21, 000$ at 5 $%$ per annum interest for $2$ nd year. What interest will Harish have to pay after two years?