7. Find the interest and amount to be paid if a sum of Rs. 5,500 is bo

1.	7. Find the interest and amount to be paid if a sum of Rs. 5,500 is borrowed at 4% pa for 2 years 6 monthscompounded annually.
Answer» Step-by-step EXPLANATION: PRINCIPAL:- Rs. 5500 Rate:- 4% TIME:- 2.5 years S.I = P×R×T / 100 5500×4×2.5/100 = After solving, S.I is equal to 550 rs. AMOUNT = Principal + S.I = 5500 + 550 = 6050 Rs. Answer is Rs.6050 = Amount.

7. Find the interest and amount to be paid if a sum of Rs. 5,500 is borrowed at 4% pa for 2 years 6 monthscompounded annually.

Answer»

Step-by-step EXPLANATION:

PRINCIPAL:- Rs. 5500

Rate:- 4%

TIME:- 2.5 years

S.I = P×R×T / 100

5500×4×2.5/100

= After solving, S.I is equal to 550 rs.

AMOUNT = Principal + S.I

= 5500 + 550

= 6050 Rs.

Answer is Rs.6050 = Amount.