Question

IF Rs.6050 is borrowed at 6% rate of interest p.a. Find the interest which is to be paid at the end of two years​

Answer 1

Answer:

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Answer 2

Step-by-step explanation:

Simple interest = PNR/100

Here,

P= 6050

R = 6

N= 2

Now, substitute the values in given formula

= 6050 x 2 x 6/100

= 605 x 2 x 6 / 10

= 605 x 12/ 10

= 7260/ 10

= 726

Therefore, 726 is the value of interest

Now, total amount to pay = 6050 + 726

= 6776 /-

Hope this answer will help you