Question

Harish borrows 2,500 ruppees at 3% per annum and 1,000 at 5% per annum interest.What interest will Harish have to pay after two years?​

Answer 1

Answer:

Given that the first principle amount borrowed by harish is 2500 at rate 3% per annum

We know that I=P×T×R100

Where P = principle,

T = time

R = rate of interest

and I = simple interest

so by substituting the given values in the formula,

the simple interest obtained for the first principle is

I1=2500×2×3100

⇒I1=150

Given that the second principle amount borrowed by harish is 1000 at the rate of 5% per annum

and the simple interest obtained for the second principle is

I2=1000×2×5100

⇒I2=100

so in order to get the total interest obtained for 2 years, we need to add the simple interests of both the principles

I=I2+I1=150+100=250

The interest to be paid by harish after 2years is Rs.250.

Hope you Got It

Answer 2

This is the answer

Hope it helps