Question

Rupees 6050 is the borrowed at 6.5%rate of the interest p.a.Find the interest and the amount to be paid at the end of the 3 years

Answer 1

p={rₓtₓi}

6050=3ₓ65/1000ₓi

6050=0.195i

i=31025.64

total amount paid=6050+31025.64

=37075.64