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  • Rs 6,050 is borrowed at 6.5% rate of interest p.a.. Find the interest and the amount to be paid at the end of 3 years.

   Rs 6,050 is borrowed at 6.5% rate of interest p.a.. Find the interest and the amount to be paid at the end of 3 years.
 

Answers (1)

best_answer

Given that,
Principal = 6050
Rate= 6.5% p.a
T = 3 year

Therefore, 
Interest = \frac{P\times R\times T}{100}
Substituting the values in the above formula, we get
= \frac{6050\times 6.5\times 3}{100}
= Rs\ 1179.75

So, the total amount to be paid = Rs 1179.75  + Rs 6050 =Rs 7229.75

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