Aman borrowed 6250 from his friend at the rate of 12% per annum for 7 years. Find the
interest and the amount paid by him.​

Given :

• Money borrowed by Aman = 6250
• Rate = 12% per annum
• Time = 7 years

To find :

• Interest after 7 years
• Amount paid by Aman

Formula used :

1. I = PRT
2. A = I + P

Here,

• I = Interest
• P = principal ( money borrowed )
• R = Rate percentage per annum
• T = time
• A = Amount

Solution :

First of all we will find out interest after 7 years.

[tex]\sf \implies \: I \: = \: \dfrac{6250 \times 12 \times 7}{100} [/tex]

[tex]\sf \implies \: I \: = \: \dfrac{525000}{100} [/tex]

[tex]\sf \implies \: I \: = \: 5250[/tex]

[tex]\sf \implies \:Amount = I + P \\ \\ \sf \implies \:Amount = 5250 + 6250 \\ \\ \sf \implies \:Amount = 11500[/tex]

ANSWER :

• Interest = 5250
• Amount = 11500