a Jamil borrows rs 500 at 5% interest to be paid in 2 years, how much will he have to pay
Answers
Answered by
3
Answer:
Answer
P=6000 per month , R=5%
After 1 year
Interest=
100
PRT
=
100
6000×5×1
=300
new Principle will be 6000+300=6300
but Rs 1200 was repaid
⟹P
′
=6300−1200=5100
After 2 years
Interest=
100
P
′
RT
=
100
5100×5×1
=255
Principle for 3
rd
year =5100+255=5355
but again Rs 1200 was repaid
∴ Outstanding =5355−1200
=4155
Answered by
12
Answer:
If we consider it as simple interest the interest will be
500×2×5/200=50 rs so he will have to pay rs 550
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