Rakesh borrowed ₹6500 at a rate of interest of 6.5%. Find the interest and the amount to be
paid back at the end of 3 years.
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Answer:
interest=
100
p∗r∗t
p = principal amount , r = rate , t = time
interest=
100
6050∗6.5∗3
interest = RS. 1179.75
total amount = interest+ principal amount
= 6050+1179.75 = Rs 7229.75
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