Question

a man gives ₹40,000 to a farmer at a 5% rate of interest. how much interest would the farmer pay him back after two years



explain with example
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Answer 1

Answer:

4000

Step-by-step explanation:

we know that sir=p*r*t/100

Answer 2

Answer: Rs. 4000

Step-by-step explanation:

Given,

Principal amount = Rs. 40,000

Rate of interest = 5%

Time = 2 years

Interest = (Principal Amount x Rate of interest x Time) / 100

             = (40,000 x 5 x 2) / 100

             = 400 x 10

             = 4000

Therefore, the farmer will have to pay Rs. 4000 to the man as interest.

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