Question

Ramesh borrowed rupees 7000 from a bank for one year at the rate of 10% per annum the interest to be paid after one year is what

Answer 1

S.I.=P×R×T/100
=7000×10×1/100=700

interest=700

Answer 2

si = p×r×t/100
= 7000×10×1/100
= 700
a=7000+700
= 7700