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:

According to question ,

Amount of 5000 is kept for 6 years i.e interest is to be paid for 6 years

And , Amount of 3000 is kept for 3 years i.e. interset is to be paid for 3 years

Let rate of interst per annum be x%

Then According to question

100

x

× (5000×6+3000×3)=2340

Solving we get x=6%

Step-by-step explanation:

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