Question

Find the amount and interest of $5000 kept for 2 years at 7percent rate of interest

Answer 1

Answer:

I =PTR /100 = 5000* 2*7 /100 = $ 700

So, A =P+I = 5000 + 700 =$ 5700

Answer 2

Step-by-step explanation:

Step-by-step explanation:

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Given :

Principal = $ 5000

Rate of Interest = 7% per annum

Time = 2 years

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To find :

Interest and Amount after 2 years.

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According to question,

Simple Interest = \frac{PRT}{100}

100

PRT

(∴ Here P = principal ,R = Rate of Interest ,T = Time.)

Simple Interest = 5000 x 7 x 2 / 100

Simple Interest = $ 700

∴Amount = Principal + Interest

Amount = 5000 +5000+ 700

Amount = $ 5700

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⇒ Here, the INTEREST is $700.

And the AMOUNT is $ 5700.