Question

1. find the principal that will amount to₹8, 480 in 3 years at the rate of 2% p. a.
2. the interest on ₹500 amount to 60 in 2 years at the same rate of interest per annum. in how much time will ₹800 amount to ₹1,232 with the same year​

Answer 1

Step-by-step explanation:

1.Let the Principal be Rs. 100. The amount after the specified time = Rs. 200.

Therefore, Interest = Amount – Principal = Rs. 200 – Rs. 100 = Rs. 100. Rate = 20%.

Using the formula S.I. × 100 = P × R × T and putting the values in this formula, we get

100 × 100 = 100 × 20 × T → T = 5 years.

Sometimes instead of interest, the amount is given, then either you add the above simple interest formula in the principal again and then solve the equation or apply the following straight formula. Simple Interest Solved

Answer 2

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