rs 6050 is borrowed at 6.5% rate of interest  p.a.. find the interest and the amount to be paid at the end of 3years

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  • -4

Priniciple amount = Rs. 6050

Rate of interest = 6.5%

Time period = 3 years.

Formula for finding out the interest: = PTR/100

=6050*6.5*3/100

Therefore, interest is Rs.1179.75.

Amount = Principle + Interest.

=6050 + 1179.75

=7229.75

Therefore, amount to be payed after 3 years is Rs.7229.75.

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