naveen borrowed rs.5000 from the bank at 16% per annum he returned the amount after 2 years how much did he pay
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Answer:Rs.6600
Step-by-step explanation:
In this case we have to find the amount...for finding the amount we have to find the interest...
Interest=principal amount×rate×time/100
=5000×16×2/100.....here we can cancel the 0s of 5000 and 100 making
=50×16×2
=50×32
=1600....
∴1600 is the interest
Amount=principal amount+interest
=5000+1600
=Rs.6600
Thus,Naveen paid Rs.6600 after 2 years by borrowing 5000 rupees at the rate of 16%
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