Question

Rupees 3000 is lent out at 9% rate of interest. Which will be recieved at the end of 2 1/2 years ?
with formulas and cimplete answers

Answer 1

Answer:

The interest is Rs.675.

Step-by-step explanation:

Given : Rs. 3000 is lent out at 9% rate of interest.

To find : The interest which will be received at the end of 2 and half years ?

Solution :

Applying interest formula,

I=P\times R\times T

Where, P is the Principal - P= Rs. 3000

R is the Rate - R= 9% =0.09

T is the time - T= 2.5 years