Question

Sheena borrowed ₹ 7000 from her friend for 2 years and 4 months at the rate of 3/2% per annum. Find the amount she has to pay back to a friend at the end of 2 years

Answer 1

First we should find the simple interest.

Simple interest :

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

100

P×R×T

\sf \dashrightarrow \dfrac{70 \times 3 \times 2}{1 \times 2}⇢

1×2

70×3×2

\sf \dashrightarrow \dfrac{70 \times 3 \times 1}{1 \times 1}⇢

1×1

70×3×1

\sf \dashrightarrow \dfrac{70 \times 3}{1}⇢

1

70×3

\sf \dashrightarrow 70 \times 3 = 210⇢70×3=210

Now, we can find the total amount to be paid at the end of 2 years