Question

Ravi took rupees 50,000 for his friend for 2 years at the rate of interest per 5%at the end of two years what amount should he pay to clear dept​

Answer 1

Answer:

55000

Step-by-step explanation:

I= P * r * t

P is the principal amount, 50000.00.

r is the interest rate, 5% per year, or in decimal form, 5/100=0.05.

t is the time involved, 2 year time periods.

So, t is 2 year time periods.

50000 × 0.05 × 2=5000

50000+5000=55000

if borrowed the 50000, Ravi would now owe 55000