Question

Find the amount to be paid at the end of 2 years . If a person borrowed Rs 6000 at 6 % rate of interest per annum​

Answer 1

Answer:

The amount to be paid at the end of 2 years is ₹6741.6

Explanation :

The person borrowed ₹6,000 for 2 years at the rate of 6% p.a.(per annum)

Using the amount formula :

${ \underline{ \boxed{ { \sf \: Amount = p \bigg( 1 + \dfrac{r}{100} \bigg)^{n} }}}}$

Where,

• p(principal) = ₹6,000
• r(rate) = 6%
• n(time) = 2 years.

$\sf \longrightarrow 6000 \bigg(1 + \dfrac{6}{100} \bigg)^{2}$

$\sf \longrightarrow 6000 \bigg(1 + \frac{3}{50} \bigg)^{2}$

$\sf \longrightarrow 6000 \bigg( \frac{53}{50} \bigg)^{2}$

$\sf \longrightarrow 60 \not0 \not0 \times \frac{53}{5 \not0} \times \frac{53}{5 \not0}$

$\sf \longrightarrow \frac{60 \times 53 \times 53}{25}$

$\sf \longrightarrow 6741.6$

$\therefore \sf \: The \: required \: amount \: is \: ₹6741.6$