Question

Sheena borrowed 7000Rs from her friend for 2 years and 4 months at the rate of 1 1/2% per annum find the amount she has to pay back to her friend at the end of 2 years.
Pls answer properly.

Answer 1

Correct Question

Sheena borrowed 7000Rs from her friend for 2 years and at the rate of 1 1/2% per annum find the amount she has to pay back to her friend at the end of 2 years.

Answer

Given :

Principle : ₹7000

Time : 2 years

Rate of interest : 1½%

To find :

The amount to be paid at the end of 2 years.

Solution :

First we should find the simple interest.

Simple interest :

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

$\sf \dashrightarrow \dfrac{7000 \times 3 \times 2}{100 \times 2}$

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

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

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

$\sf \dashrightarrow 70 \times 3 = 210$

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

Total Amount :

$\sf \dashrightarrow Simple Interest + Principle$

$\sf \dashrightarrow 210 + 7000$

$\dashrightarrow$$\sf 7210$

Hence, the total amount to be paid at the end of 2 years is ₹7210.