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Rupees 5000 is borrowed at 3.5 %rate of interest p.a borrowed for two years finf the amount to be paid at the end of the secong year?
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Rupees 5000 is borrowed at 3.5 %rate of interest p.a borrowed for two ...
Calculation of Interest
To calculate the amount to be paid at the end of the second year, we need to calculate the interest first. The formula to calculate simple interest is:
Simple Interest (SI) = (Principal × Rate × Time) / 100
Given that the principal amount (P) is Rs. 5000, the rate of interest (R) is 3.5% per annum, and the time period (T) is 2 years, we can substitute these values into the formula:
SI = (5000 × 3.5 × 2) / 100
SI = (35000) / 100
SI = 175
Therefore, the interest accrued over the two years is Rs. 175.
Calculation of Total Amount
To calculate the total amount to be paid at the end of the second year, we need to add the interest amount to the principal amount. The formula to calculate the total amount is:
Total Amount = Principal + Interest
Given that the principal amount is Rs. 5000 and the interest accrued is Rs. 175, we can substitute these values into the formula:
Total Amount = 5000 + 175
Total Amount = 5175
Therefore, the total amount to be paid at the end of the second year is Rs. 5175.
Explanation
The principal amount is the initial amount borrowed, which in this case is Rs. 5000. The rate of interest is the percentage charged on the principal amount per annum, which in this case is 3.5%. The time period is the duration for which the amount is borrowed, which in this case is 2 years.
Using the formula for simple interest, we can calculate the interest accrued over the two years, which is Rs. 175. This means that at the end of the second year, an additional Rs. 175 needs to be paid on top of the principal amount.
To calculate the total amount to be paid at the end of the second year, we add the interest amount to the principal amount. The total amount to be paid is Rs. 5175.
Summary
In summary, when Rs. 5000 is borrowed at a rate of 3.5% per annum for two years, the interest accrued over the two years is Rs. 175. Therefore, the total amount to be paid at the end of the second year is Rs. 5175.
To calculate the amount to be paid at the end of the second year, we need to calculate the interest first. The formula to calculate simple interest is:
Simple Interest (SI) = (Principal × Rate × Time) / 100
Given that the principal amount (P) is Rs. 5000, the rate of interest (R) is 3.5% per annum, and the time period (T) is 2 years, we can substitute these values into the formula:
SI = (5000 × 3.5 × 2) / 100
SI = (35000) / 100
SI = 175
Therefore, the interest accrued over the two years is Rs. 175.
Calculation of Total Amount
To calculate the total amount to be paid at the end of the second year, we need to add the interest amount to the principal amount. The formula to calculate the total amount is:
Total Amount = Principal + Interest
Given that the principal amount is Rs. 5000 and the interest accrued is Rs. 175, we can substitute these values into the formula:
Total Amount = 5000 + 175
Total Amount = 5175
Therefore, the total amount to be paid at the end of the second year is Rs. 5175.
Explanation
The principal amount is the initial amount borrowed, which in this case is Rs. 5000. The rate of interest is the percentage charged on the principal amount per annum, which in this case is 3.5%. The time period is the duration for which the amount is borrowed, which in this case is 2 years.
Using the formula for simple interest, we can calculate the interest accrued over the two years, which is Rs. 175. This means that at the end of the second year, an additional Rs. 175 needs to be paid on top of the principal amount.
To calculate the total amount to be paid at the end of the second year, we add the interest amount to the principal amount. The total amount to be paid is Rs. 5175.
Summary
In summary, when Rs. 5000 is borrowed at a rate of 3.5% per annum for two years, the interest accrued over the two years is Rs. 175. Therefore, the total amount to be paid at the end of the second year is Rs. 5175.
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Rupees 5000 is borrowed at 3.5 %rate of interest p.a borrowed for two years finf the amount to be paid at the end of the secong year?
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Rupees 5000 is borrowed at 3.5 %rate of interest p.a borrowed for two years finf the amount to be paid at the end of the secong year? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about Rupees 5000 is borrowed at 3.5 %rate of interest p.a borrowed for two years finf the amount to be paid at the end of the secong year? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Rupees 5000 is borrowed at 3.5 %rate of interest p.a borrowed for two years finf the amount to be paid at the end of the secong year?.
Rupees 5000 is borrowed at 3.5 %rate of interest p.a borrowed for two years finf the amount to be paid at the end of the secong year? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about Rupees 5000 is borrowed at 3.5 %rate of interest p.a borrowed for two years finf the amount to be paid at the end of the secong year? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Rupees 5000 is borrowed at 3.5 %rate of interest p.a borrowed for two years finf the amount to be paid at the end of the secong year?.
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