Question

A sum of rs 6050 is borrowed at 6.5 rate interest per annum. Find the interest and the amount to be paid at the end of 3 years

Answer 1

For finding,
6.5 % of 6050 we get, 393.25
this is the interest for one year..
Now the interest for 3 years will be:-
3×393.25=1179.75

Amount= Principle + interest
6050+1179.75=7229.75 rs

Answer 2

Given Principal = 6050, n = 3 years, R = 6.5%.

We know that I = P * T * R/100
                         
                         = 6050 * 3 * 6.5/100

                          = 117975/100

                         = 1179.75.


We know that Amount = P + I

                                    = 6050 + 1179.75

                                    = 7229.75.


Hope this helps!