Question

manohar borrowed $1000 from abc finance with an interest rate of 10percent p.a. find the amount to be paid after two years​

Answer 1

ANSWER:–

principal amount=P=RS1000

Rate of interest=R=10% per annum

Time for which the money is borrowed=T=2 years

The interest charged on an amount of RS1000 to Manohar is–

S.I=PRT/100

=RS(1000×10×2/100)

=RS200.

Total amount to be paid after two years is

S.I+P=RS(200+1000)=RS1200.

So,the amount to be paid by Manohar to abc finance after two years is RS1200. (ans)