A sum of Rs 1000 is lent for 1 year at the rate of 7% p.a. find the interest and amount
Answers
Answered by
6
Answer:
Interest =₹70
amount=₹1070
Step-by-step explanation:
interest= SI=PRT/100
P=₹1000
R=7
T=1
∴SI=1000*7/100
SI=₹70
Amount=P+SI
amount=1000+70=1070
hope it helps pls mark brainliest
Answered by
11
- Principle (P)= 1000 Rs.
- Rate (R) = 7%.
- Time (T) = 1 year.
- The interest (I).
- The amount (A).
We can use the formula for Interest:
Where:
- I is interest.
- P is principal.
- R is rate.
- T is time.
Substituting the given values:
We know that amount = P+I
→ Amount = 1000+70
→ Amount = 1070 Rs.
∴ Interest is 70Rs and Amount is 1070 Rs.
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