If Rs 7000 is borrowed at Simple interest rate of 2 5 % per annum for 3 years, find the - Maths - Comparing Quantities

Question

If Rs 7000 is borrowed at Simple interest rate of 2 5 % per annum
for 3 years, find the amount to be returned ?

Manbar Singh · Accepted Answer

Principal, P=Rs 7000Rate of interest, R=2
5 % p a
Time, T=3 yearsSimple Interest=P×R×T100⇒SI=7000×2
5×3100=Rs 525Amount=Principal+InterestSo, Amount=7000+525=Rs 7525So, the amount to be returned after 3 years is Rs 7525

If Rs 7000 is borrowed at Simple interest rate of 2.5 % per annum for 3 years, find the amount to be returned ?