Question

a sum of Rs 500 is borrowed at a rate of interest 15 % per annum for 2 years find the simple interest and the amount to be paid at the end of 2 years​

Answer 1

Answer

The simple interest to the sum Rs. 10,000 for 2 years at a rate of interest 15% per annum is

100

10,000×2×15

=3,000.

So the interest will be Rs. 3,000 at the end of 2 years.

And the amount will be 10,000+3,000=13.000 at the end of 2 years.