Question

Find the amount to be paid at the end of two years, if principal = ₹3500 at 7% per annum.​

Answer 1

Answer:

The answer of the sum is 245

Answer 2

Before, finding the answer. Let's find out on how to find the answer.

• First, we must find the Simple Interest. To find it, we must use the formula of :

$\sf Simple \: Interest = \dfrac{p \times r \times t}{100}$

Where,

P = Principal

R = Rate

T = Time

• After finding it, we must add both the Principal and Simple Interest to find the amount.

___________________

Given :

• Principal = ₹3500
• Rate = 7%
• Time = 2 years

To find :

• amount

Solution :

We know that Simple Interest is $\sf =\dfrac{p \times r \times t}{100}$

                                                      $\sf = \dfrac{3500 \times 7 \times 2}{100}$

                                                      $\sf = \dfrac{24500 \times 2}{100}$

                                                       $\sf = \dfrac{49000}{100}$

                                                       $\sf = Rs. 490$

Hence, Simple Interest is Rs. 490.

Now,

Amount = Principal + Simple Interest

             = ₹ 3500 + ₹ 490

             = ₹ 3990

Hence, Amount paid at the end of two years is ₹ 3990.