$R s . 7000$ is borrowed at $3.5 %$ rate of interest p.a. borrowed for $2$ years. Find the amount to be paid at the end of the second year.

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Solution

interest= $\frac{p * r * t}{100}$
p = principal amount , r = rate , t = time
interest= $\frac{7000 * 3.5 * 2}{100}$
interest = RS. 490
total amount = interest+ principal amount
= 7000+490= Rs 7490

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Rs.7000 is borrowed at 3.5% rate of interest p.a. borrowed for 2 years. Find the amount to be paid at the end of the second year.

interest=p∗r∗t100p = principal amount , r = rate , t = timeinterest=7000∗3.5∗2100interest = RS. 490total amount = interest+ principal amount = 7000+490= Rs 7490

$R s . 7000$ is borrowed at $3.5 %$ rate of interest p.a. borrowed for $2$ years. Find the amount to be paid at the end of the second year.

interest= $\frac{p * r * t}{100}$
p = principal amount , r = rate , t = time
interest= $\frac{7000 * 3.5 * 2}{100}$
interest = RS. 490
total amount = interest+ principal amount
= 7000+490= Rs 7490