Question

a farmer takes a loan for 350000 rupees at 9.25% per annum simple interest form of cooperative bank and repay the loan after 2 and half years what is the total amount repaid by the farmer... ​

Answer 1

Given,

    A farmer takes a loan of amount $350000$ rupees.

   Simple interest per annum is $9.25%$$%$%

   Time taken to repay the loan is $2$ and half years.

Formula for calculating total amount:

   $A=P(1+\frac{R}{100} )^{t}$

Here,

 $P=350000\\ R=9.25\\ t=2.5$

$A=350000(1+\frac{9.25}{100} )^{2.5}$

$A=350000(1+0.0925)^{2.5}$

$A=350000(1.0925)^{2.5}$

$A=436638.13$

Therefore, the total amount paid by the farmer is $436638.13$ rupees

Answer 2

Answer:3

$436638.18$

Step-by-step explanation:

Given Data,

Principal $=350000$ rupees, Rate of interest $=9.25%$, Time period $=2\frac{1}{2}$ years.

As we know that the formula for simple interest $=\frac{PTR}{100}$

$=350000\times9.25\times\frac{5}{2}\times\frac{1}{100}$

$=80937.5$

Therefore, amount to be paid after $2$ and half years $=350000+80937.5=430937.5$.