Question

A sum of Rs. 5000 is borrowed at a rate of interest 10% per annum for 3 years. Find the simple

interest on this sum and amount to be paid at the end of 3 years.​

Answer 1

Answer:

A borrows 5000 at simple interest. At the end of 3 years, he again borrows 3000 and finally pays 2340 as interest after 6 years from the time he made the first borrowing. Find the rate of interest per annum

Answer 2

Given :

• A sum of Rs. 5000 is borrowed at a rate of interest 10% per annum for 3 years

To find :

• Find the simple interest on this sum and amount to be paid at the end of 3 years.

Solution :

On Rs 100, interest charged for 1 year is Rs 10

So, on Rs 5000, interest charged

= 10/100 x 5000

= 10 x 50

= Rs 500

Interest for 3 years

= Rs 500 x 3

= Rs 1500

Amount to be at the end of 3 years

= Principal + Interest

= Rs 5000 + Rs 1500

= Rs 13000