Ram borrowed a sum of 2000 from his friend on 1 May at the rate of 5%. An emergency arose and he again borrowed 1000 on 24 September at the same rate of interest. If he returned his loan, along with the interest, on 6 December, how much was the total amount returned? plsss give the full method pls help friends
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Answer:
Total amount (2000 + 1000) x rates(5% = 0.05)
= 3000 x 0.05
= 150
The rate is 150, therefore the total amount that Ram will pay is 3,150
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