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Rs. 7,000 is borrowed at 3.5% …

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Rs. 7,000 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.

Posted by Gurleen Kaur 6 years, 6 months ago

CBSE > Class 07 > Mathematics

1 answers

Sia ? 6 years, 6 months ago

P = Rs. 7000
R = 3.5% p.a.
T = 2 years
{tex}\therefore{/tex} Interest to be paid at the end of the second year
= {tex}\frac{P R T}{100}=\frac{7000 \times 3.5 \times 2}{100}{/tex}
= Rs. 490
A = P + I
= Rs. 7000 + Rs. 490
= Rs. 7490
Hence, the amount to be paid at the end of the second year is Rs. 7490

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CBSE > Class 07 > Mathematics