Question

23. Find the amount of a loan of Rs2,000 at 5% per year for 5 years.​

Answer 1

Answer:

2500 rupees

Step-by-step explanation:

2000×5/100=100

100×5=500(for 5 yrs.)

the amount will be rs. (2000+500)

Answer 2

As per the given in the question,

We have to determine the amount obtained on Rs. 2000 if it is given at an 5% for 5 years.

As we know that,

We have the formula for finding simple interest.

$SI = \frac{PRT}{100}$

Where, P = Principal

R = rate percentage

T = Time

So, putting the value of P, R and T in above equation,

We will get,

$SI = \frac{2000 \times 5 \times 5}{100}\\=>SI =\frac{2000 \times 25}{100}\\=>SI = Rs.\:500$

So, Amount will be sum of principal and Interest.

So, value of Amount will be

$Rs.\: 2000+Rs\:500\\=>Rs.\:2500$

Hence, value of Amount will be Rs. 2500.