Q4 of 32 Page 46

Utplalbabu took a loan ₹3200 for 2 yrs. From a Cooperative bank for the cultivation of his land at the rate of simple interest of 6% per annum. Let us write by calculating, the amount he has to repay after 2yrs.

As we know,



Here, p = Rs. 3200, r = 6 , t = 2 and I = ?


⇒


= Rs. 384


Amount (Principal along with interest)


= Interest + Principal


= 384 + 3200 = Rs. 3584


Hence, Rs. 3200 he has to pay after 2 yrs.


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