Question

rupees 7000 is borrowed at 3.5% rate of interest p.a. borrowed for 2 years. find the amount to be paid at the end of the second year

Answer 1

amounts =7490 rupees

Answer 2

Answer:

Rs. 7490.

Step-by-step explanation:

principal= 7000

              Rate = 3.5% p.a

              T = 2 years

              Therefore , interest =P×R×T / 100

                                             = 7000× 3.5 × 2 /100

                                             = rs. 490

             490 + 7000 = rs. 7490

             Therefore, the total amount to be paid is Rs. 7490.