Question

Kashi borrowed rupees 4000 from a bank for the purpose of purchasing a buffalo if the bank charges interest at the rate of 9% per annum what amount she will pay to the bank at the end of 2 years

Answer 1

Step-by-step explanation:

4720/- she need to pay back

Answer 2

Given :-

• Principal ( P ) = Rs,4000
• Rate ( R ) = 9%p.a
• Time ( T ) = 2 years

To Find :-

• Amount that she will get back after 2 years

Solution :-

➞ Simple Interest = P × R × T ÷ 100

➞ Simple Interest = 4000 × 9 × 2 ÷ 100

➞ Simple Interest = 40 × 9 × 2

➞ Simple Interest = 40 × 18

➞ Simple Interest = Rs, 720

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➞ Amount = Principal + Simple Interest

➞ Amount = 4000 + 720

➞ Amount = Rs, 4720

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Therefore, She will get back Rs,4720 after 2 years

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★ Additional Info :

• Principal: The money which we deposit in or the lower from the bank or the money learned called the principal.
• Rate of interest: The interest paid on Rs, 100 for one year is called the rate per cent per year or rate per cent per annum.
• Time: The period of time for which the money is lent or invested.
• Interest: Additional money paid by the borrowed to the lender for using the money is called interest.
• Simple Interest: If the interest is calculated uniformly on the original principal throughout the lone period, it is called simple interest.
• Amount: The total money paid back to the lender is called the amount.

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