Question

3. Reena took 7000 loan from a bank. She
pays back 5000 at the end of 3 years and
the remaining amount after 5 years. Rate of
interest is 6% per annum. Calculate:
(i) The amount after 3 years.
unt​

Answer 1

Step-by-step explanation:

Principal = 7000

Rate = 6%

Time= 3 years

Interest = PRT

7000*6/100*3

= 1260

Amount = Principal + Interest

7000 + 1260

= 8260