A sum of RS.30890 is borrowed at 10% rate of interest annually for 2 1/2 years. Find the simple interest and the total amount to be paid after 2 1/2years?
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Answer:
Principal = 30890
Rate of interest =10%
Time=21/2 years that is 5/2 years
Step-by-step explanation:
Simple Interest =PRT/100
=30890×10×5/100×2
=7722.5
therefore interest =7722.5
amount =principal +interest
=30890+7722.5
=38612.5
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