Rs 7,000 is borrowed at 3 5% rate of interest per annum borrowed for 2 years Find the amount - Maths - Comparing Quantities

Question

Rs 7,000 is borrowed at 3 5% rate of interest per annum borrowed
for 2 years Find the amount to be paid at the end of the second
year

Saumya Rawat · Answer

PRINCIPAL=RS 70000
RATE OF INTEREST =3 5%
TIME =2 YEARS
INTEREST = ?

INTEREST=PRINCIPAL X RATE OF INTEREST X TIME /100
INTEREST = 7000 X 3 5 X 2 / 100
=49000/100= 490
SO THE AMOUNT TO BE PAID AT THE END F THE SECOND YEAR IS RS 490

Rs.7,000 is borrowed at 3.5% rate of interest per annum borrowed for 2 years. Find the amount to be paid at the end of the second year.