Question

Sunil borrowed ₹ 3800 from the bank at the rate of 29/2 % per an I’m for 5/2 years. Find the interest and amount paid by him at the end of 5/2 years

Answer 1

Given,

Principal (P) = RS. 3800
Rate of Interest (r) = 29/2%
Number of Years (n) = 5/2 years

Interest is be given by

I= Pnr/100
= (3800*29*5)/(2*2*100)
= (38*29*5)/4

= RS. 1377.50




Amount = Principal+Interest
= 3800+1377.50

= RS. 5177.50