The interest rate history in Pakistan shows an increasing trend in interest rate. In current budget,
SBP announced 7.65 % rate due to current situation raised by COVID-19 Pandemic which was
above 10% at the beginning of the year 2020. Explain in detail, what would be the impact of this
change in interest rate on the economy of Pakistan?
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Amount1= 6200, R1 =2 , Amount2 = 7400, R2= 3interest = amount 2 - amount 1 = 7400 - 6200= 1200..principal + 2 interest ( interest of two years)= Amount principal + 2(1200) = 6200principal = 6200-2400= 3800
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