Question

Anita boorwed rupees 400 from her friend at the rate of 12% per annum for 2 and half years find the interest and the amount paid by her

Answer 1

Principal = 400
Rate of interest = 12% per annum
Time = 2 and half years or 2.5 years
Interest = (P × R × T) ÷ 100
= (400 × 12 × 2.5) ÷ 100
= (4800 × 2.5) ÷ 100
= 12000 ÷ 100 = 120
Amount = Principal + Interest
= 400 + 120 = 520