Question

A sum of Rs 10,000 is borrowed at a rate of interest 15% per annum for 2 years. Find the simple interest on this sum and the amount to be paid at the end of 2 years.

Answer 1

Amount to be paid=principal amount+Simple interest
Simple interest=`(P xx RxxT)/100` where P is the principal amount ,T is time and R is the rate of the interest.
Simple interest=` (10,000 xx 15xx 2)/100=3000`
Amount to be paid=`10,000+3000=Rs.13000`