Question

Solve the following:

A man borrowed a Rs 5000 from a money lender for 5 years at the rate of 8% per annum. How much interest did he pay for 5 years? Also find the amount.​

Answer 1

Interest = Rs 2000

Amount = Rs 7000

Explanation:

Amount = Principal + Interest

Given

Principal = Rs 5000

Interest= PRT/100

Interest = 5000*8*5/100

Interest = 50*40

Interest = Rs 2000

Amount after 5years = 5000 + 2000

Amount after 5years = Rs 7000