Question

3) Aravind borrowed a sum of R 8000 from
Akath at 7% per annum. Find the interest
and amount to be paid at the end of two years.​

Answer 1

Answer:

The interest is ₹1159.2 and amount is ₹ 9159.2

Step-by-step explanation:

Given,
Principal = ₹8000
Rate = 7% pa.
Time = 2 years

According to formulae,
$A=P[\frac{1+R}{100}]^n$
$A=8000[\frac{1+7}{100}]^2$ = $A=8000[\frac{107}{100}]^2$
$A=8000\frac{107 *107}{100*100}$ = ₹9159.2
∴The amount is ₹9159.2
C.I = A -- P
C.I = 9159.2 - 8000
     =  ₹ 1159.2
∴ The interest is ₹1159.2

Hope this helps!