Question

Sheena borrowed 7,000 from her friend for 2 years and 4 months at the rate of 1-% per annum. Find the amount she has to pay back to her friend at the end of 2 years.​

Answer 1

Answer:

rs. 28000

Step-by-step explanation:

Money borrowed (P) = rs. 7000

time = 2 years and 4 months

rate of interest = 1% p.a.

therefore, amount she has to pay back at the end of two years,

A = P(1+R/1)^t

= rs. 7000 (1+1/1) ^2

= rs. 7000 (1+1)^2

= rs. 7000 × 2 ×2

= rs. 28000

hence, the answer is rs. 28000.

(We don't need to calculate the left over 4 months as not asked in the question.)

Answer 2

Correct Question

Sheena borrowed 7,000 from her friend for 2 years at the rate of 1% per annum. Find the amount she has to pay back to her friend at the end of 2 years.

Answer

Given :

Principle : ₹7000

Rate of interest : 1%

Time : 2 years

To find :

The total amount to be paid at the end of the year.

Solution :

First, we should find the simple interest.

Simple interest :

$\sf \dashrightarrow SI = \dfrac{P \times R \times T}{100}$

$\sf \dashrightarrow \dfrac{7000 \times 1 \times 2}{100}$

$\sf \dashrightarrow \dfrac{70 \times 1 \times 2}{1}$

$\sf \dashrightarrow \dfrac{70 \times 2}{1}$

$\sf \dashrightarrow 70 \times 2 = 140$

Now, we can find the total amount.

Total amount :

$\sf \dashrightarrow Principle + Simple \: Interest$

$\sf \dashrightarrow 7000 + 140$

$\dashrightarrow$₹$\sf 7140$

Hence, the total amount to be paid at the end of 2 years is ₹7140.