Find the amount to be paid at the end of 2 years when principal is ₹56000 and rate is 12 ½%
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Step-by-step explanation:
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The amount to be paid = ₹70000
Step-by-step explanation:
Given,
- Term or Year = 2 yrs.
- Principal = ₹56000.
- Rate = 12½%
We have to find the amount to be paid after 2 yrs....
I = prt
= 56000 × 12½/100 × 2
= 56000 × 25/200 × 2
= ₹14000
So, you have to pay after 2 yrs = ₹56000 +₹14000 = ₹70000
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