Ram borrowed a sum of Rs. 2000 from his friend on May 1 at the rate of 5 percent per annum. An emergency arose and he again borrowed Rs. 1000 on September 24 at the same rate of interest. If he returned his loan along with the interest on December 6 how much was the total amount returned.

We have rate of interest as 5% per annum or we can say 5% for 365 days

So, total amount to be returned after the confined duration

  • -14

Is it compound or simple interest ? Pls explain ur qst. ...............

  • -7
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