Bhupendra borrowed rs 6300 for a period of 2year 8month at 7%rate of interest per annum.find out how much amount he has to repay
To find out how much amount Bhupendra has to repay, we need to calculate the total interest and add it to the principal amount.
Step 1: Calculate the interest
Interest = (Principal * Rate * Time) / 100
Principal = Rs 6300
Rate = 7% per annum
Time = 2 years and 8 months = 2 + 8/12 years
Convert the months into years: 8/12 years = 2/3 years
Interest = (6300 * 7 * (2 + 2/3)) / 100
= (6300 * 7 * (8/3)) / 100
= 1176
Step 2: Calculate the total repayment amount
Total repayment amount = Principal + Interest
= Rs 6300 + Rs 1176
= Rs 7476
Therefore, Bhupendra has to repay Rs 7476.
2 years, 8 months
= 1 + 8/12
= 5/3 years
interest = 6300(1.07)^(5/3) - 6300