3) Find the simple interest on Rs 5000 at 10 % p.a. for 4 years. Also find the amount
Answers
Answer:
When we calculated the time period between two dates, we do not could the day on which money is deposited but we count the day on which money is retuned.
● Time is always taken according to the per cent rat.
● For converting time in days into years, divide the number of days by 365 (for ordering or lap year.)
● For converting time in month into years, divide the number of month by 12 (for ordering or lap year.)
When we calculated the time period between two dates, we do not could the day on which money is deposited but we count the day on which money is retuned.
● Time is always taken according to the per cent rat.
● For converting time in days into years, divide the number of days by 365 (for ordering or lap year.)
● For converting time in month into years, divide the number of month by 12 (for ordering or lap year.)
Step-by-step explanation:
(a) $ 900 for 3 years 4 months at 5% per annum. Find the amount also.
Solution:
P = $ 900,
R = 5% p.a.
T = 3 years 4 months = 40/12 years = 10/3 years
Therefore, S.I = (P × R × T)/100 = (900 × 5 × 10)/(100 × 3) = $ 150
Amount = P + S.I = $ 900 + $ 150 = $ 1050
(b) $ 1000 for 6 months at 4% per annum. Find the amount also.
Solution:
P = $ 1000,
R = 4% p.a.
T = 6 months = 6/12 years
S.I = (P × R × T)/100 = (1000 × 4 × 1)/(100 × 2) = $ 20
Therefore, A = P + I = $( 1000 + 20) = $ 1020
(c) $ 5000 for 146 days at 15¹/₂% per annum.
Solution:
P = $ 5000, R = 151/2% p.a. T = 146 days
S.I = ( 5000 × 31 × 146)/(100 × 2 × 365)
= $ 10 × 31 = $ 310