Question

A takes Rs. 3,000 from B for 2 years at the rate of 10% half-yearly at simple interest. What amount will be paid by
B after the end of 2 years?
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Answer 1

ANSWER

Principal=Rs.3000,

Time=2years

Rate=11%p.a.

Interest=

100

P×R×T

T= Time period

R%= Rate of interest

P= Principal

=3000×

100

11

×2

⇒Rs.660

Amount=P+PI

=3000+660=Rs.3660