Mr. Maharjan borrowed a sum of Rs 9,000 from an Agricultural Development Bank at the rate of 12.5 %. How much amount should he p
1 answer:
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Answer:
We need to put $801.88 amount in the bank.
Step-by-step explanation:
given that
t=3 yr
Need amount $850 after 3 yr so P= $850
Interest rate=2%
We know that for simple interest
Where r is the Interest rate,t is the time,A is the present amount and P is principle amount after t time.
Here given that P= $850
So now putting the values
So A=$801.88
We need to put $801.88 amount in the bank.