Question

what will be the interest on Rs. 5000 for 2 years at the rate of 2% per month. with explanation​

Answer 1

Answer:

this is it

Step-by-step explanation:

Answer

1

st

year

Principal, P=Rs.5000

Time, T=1 year

Rate of interest ,R=6%

∴simple Interest, SI=

100

PTR

=

100

5000×10×6

=Rs.300

∴Amount=P+SI=Rs.5300

2nd year

Principal = Amount of 1st year=Rs.5300

Rate of interest =8%

Time =1 year

∴ Interest =

100

5300×1×8

=Rs.424

∴ Amount =Rs.(5300+424)=Rs.5724

The interest of 2nd year is the required compound interest. So, C.I=rs.424 and the required amount is Rs.5724

Answer 2

Answer:

2400

Step-by-step explanation:

We know the Formula

i.e.

Interest = PxRxT/100

Given

Principal - 5000

Rate - 2%

Time - 2 years = 24 Months

• Simple Interest = PxRxT/100
• = 5000 X 2 X 24 / 100
• = 2400 ...