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  • Rs 3,500 is given at 7% p.a. rate of interest. Find the interest which will be received at the end of two years.

   Rs 3,500 is given at 7% p.a. rate of interest. Find the interest which will be received at the end of two years.
 

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Given that,
Principal = 3,500
Rate= 7% p.a
T = 2 year

Therefore, 
Interest = \frac{P\times R\times T}{100}
Substituting the values in the above formula, we get
= \frac{3,500\times 7\times 2}{100}
= Rs\ 490

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manish

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