Question

RS. 7000 is borrowed at 7% rate of interest p.a. borrowed for 2 years. Find the amount to be paid at the end of the second year ​

Answer 1

Answer:

interest=

100

p∗r∗t

p = principal amount , r = rate , t = time

interest=

100

7000∗3.5∗2

interest = RS. 490

total amount = interest+ principal amount

= 7000+490= Rs 7490

Answer 2

interest=

100

p∗r∗t

p = principal amount , r = rate , t = time

interest=

100

7000∗7∗2

interest = RS. 490

total amount = interest+ principal amount

= 98000