Question

Rs. 7000 is borrowed at 3.5% rate of interest per annum. find the interest and amount to be paid at the end of 2 years.

Answer 1

Answer:

P=rs 7000 at 3.5% p.a  

T=2 year

A=?

A=P+I

I=PRT/100 so 7000*3.5*2/100

=490

I=7000

A=P+I=7000+490

7490 is the answer

Answer 2

Answer:

490, 7490

Step-by-step explanation:

Given, Principal = 7000, R = 3.5%, Time = 2 years.

(i) Interest:

= PTR/100

= (7000 * 3.5 * 2)/100

= 490

(ii) Amount:

= Principal  + Interest

= 7000 + 490

= 7490.

Therefore, Interest is 490 and Amount is 7490.

Hope it helps!