Question

2. 3,500 is given at 7% p.a. rate of interest. Find the interest and the amount to be paid at the end of two years.​

Answer 1

Answer:

At the end of 2 yrs =

• Interest = ₹490
• Total Amount = ₹3,990

Step-by-step explanation:

Given :

→ Principal = ₹3,500

→ Rate of interest = 7%

→ Time = 2 yrs

To find :

→ The interest and total amount at the end of 2 yrs.

Solution :

Formula to find Interest,

$→I = \frac{P \times R \times T}{100} \\ →I = \frac{3500 \times 7 \times 2}{100} \\ →I = \frac{49000}{100} \\ →I = 490$

The interest is ₹490.

Total amount = Principal + Interest

→ 3,500 + 490

→ 3,990