Question

Anil borrowed Rs.10000 from a money lender for 2 years at 5% per annum. After 2 years, he paid Rs.11000 including Rs.1000. What is the Principal in this question?

Answer 1

Solution

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.

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