Question

A money lender charges 20% as interest . If a farmer borrows Rs 5000 for 2 years from money lender , What is the amount , that he has to pay ? ​

Answer 1

Answer:

The 20% of 5000 is 1000

Step-by-step explanation:

if the 20% is for one month pays per month 1000 rupees to money lender if it is for a year he will pay 1000 on 5000 if 20% intrest for 2 years on 5000 he will pay 1000 on 5000 mean he pays to money lender 6000 rupees

Answer 2

Answer: Rs 7000

Step-by-step explanation:

Given:

Interest Rate = 20℅

Principal = Rs 5000

Time = 2 years

To find : simple interest

Solution :

SI = $\frac{P*R*T}{100}$

=$\frac{5000*20*2}{100}$

= Rs 2000

So the amount which is to paid by the farmer is (5000+2000) = Rs 7000