Question

Find the amount to be paid at the end of 2 years when Principal = ₹6400 at 6% per
annum.

Answer 1

Answer: Amount to be paid at the end of 2 years is 7168

Step-by-step explanation:

Given that, Principal=6400

Rate=6%

Time=2 years

$Amount=Principal+Simple Interest$

To find Amount, We have to find Simple interest

$Simple interest=Principal*Rate*Time/100$

SI=6400*6*2/100

=6400*12/100

=76800/100

=768

Here, Simple interest is 768

$Amount=Principal+Simple Interest$

Amount=6400+768

=7168

Therefore, amount is 7168