Question

Find the amount to be paid at the end of 2 years at 5% rate per annum if borrowed money is ₹ 5,000
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Answer 1

Answer:

5,512.5

Step-by-step explanation:

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Answer 2

As per the data given in the question, we have to find the simple interest.

To find : simple interest=?  

Given data:  Principal amount $= 5000$

                            Rate $= 5 \ \%$

                            Time $= 2 \ years$

• We know that , the simple Interest of an amount is calculated by multiplying the interest rate by the principal amount and the time period. t
• SI Formula will be :

        P = Principal Amount

       T = Time in Years

       R = Rate of Interest per Annum.

       We will write as, $S.I = \frac{P\times R \times T}{100}$

• So, putting the value in formula. we get,

             $S.I = \frac{5000\times5\times2 }{100}$

                  $= 500$

 Hence, the amount to be paid  will be $Rs .\ 500$