Question

If Rita borrowed Rs.6050 at 6.5% rate of interest per annum, find the simple interest and the amount to be paid at the end of 3 years.

Answer 1

Answer:

Amount to be paid is 7229.75

Step-by-step explanation:

Principle (P) = 6050

Rate (R) = 6.5% p.a

Time period (T) = 3 Years

Simple interest (SI)= (P * T * R) / 100

                              = (6050 * 6.5 * 3) / 100

                              = 1179.75

Amount = P + SI

             = 6050+ 1179.75

             = 7229.75