manohar borrowed $1000 from abc finance with an interest rate of 10percent p.a. find the amount to be paid after two years​

1 thought on “manohar borrowed $1000 from abc finance with an interest rate of 10percent p.a. find the amount to be paid after two years​”

1. ANSWER:–

   principal amount=P=RS1000

   Rate of interest=R=10% per annum

   Time for which the money is borrowed=T=2 years

   The interest charged on an amount of RS1000 to Manohar is–

   S.I=PRT/100

   =RS(1000×10×2/100)

   =RS200.

   Total amount to be paid after two years is

   S.I+P=RS(200+1000)=RS1200.

   So,the amount to be paid by Manohar to abc finance after two years is RS1200. (ans)

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