Question

6050 rupees is borrowed at 6.5 percent rate of interest . Find interest and amount to be paid at the end of 3 years<br />

Answer 1

Answer:

Interest: 1179.75

Amount to be paid at  end of 3 years: 7229.75

Step-by-step explanation:

Principal (amount borrowed):₹ 6050

Rate of Interest: 6.5%

Time: 3 years

Interest: Principal×Rate×Time/ 100

            =  6050×6.5×3/100

            = 117975/100

            = ₹1179.75

Amount to be paid: Interest + Principal

                              = 6050+1179.75

                              = ₹7229.75

Answer 2

Answer:

Principle(P)=6050 rupees

Rate(R)=6.5%

Time(T)=3 years

So,

SI=PRT/100

SI=(6050•6.5•3)/100

SI=1179.75rupees

And, Amount=P+SI

Amount=6050+1179.75

Amount=7229.75rupees