Question

3. Ramesh took a loan of 80,000 from a bank at 12% per annum and paid it back after
seven months together with interest. Find the amount he paid to the bank.​

Answer 1

AnswEr :

$\bf{Given}\begin{cases}\sf{Principal = Rs. \:80000}\\\sf{Rate = 12\%}\\ \sf{Time = 7 \:months = \dfrac{7}{12} \:yrs} \end{cases}$

$\underline{\bigstar\:\textsf{Calculation of Interest on Sum :}}$

$\longrightarrow\tt Simple\:Interest=\dfrac{Principal \times Rate \times Time}{100}\\\\\\\longrightarrow\tt Simple\:Interest=\dfrac{Rs. \:80000 \times 12 \times 7}{100 \times 12}\\\\\\\longrightarrow\tt Simple\:Interest=Rs.(800 \times 7)\\\\\\\longrightarrow\tt Simple\:Interest=Rs.\:5600$

$\rule{150}{2}$

$\underline{\bigstar\:\textsf{Amount Paid to Bank :}}$

$:\implies\tt Amount = Principal+Simple\: Interest\\\\\\:\implies\tt Amount = Rs.(80000 + 5600)\\\\\\:\implies\boxed{ \orange{\tt Amount = Rs. 85600}}$

⠀

$\underline{\therefore\:\textsf{Ramesh paid to bank an amount of \textbf{Rs. 85600}}}$

Answer 2

Question :-- Ramesh took a loan of 80,000 from a bank at 12% per annum and paid it back after seven months together with interest. Find the amount he paid to the bank.

Formula of simple interest :--

→ SI = P * R * T /100

→ R = (SI * 100) / (P * T)

→ T = (SI * 100) / (P * R)

→ Amount = P + SI .

where ,

→ P = Principal

→ R = Rate of Interest

→ T = Term of the loan/deposit in years..

_____________________________

Solution :---

Ramesh took a loan of Rs.80000 from a bank that means This is our Principal .

→ Principal = Rs.80000 .

→ Rate = 12 % per annum.

→ Time = 7 months = (7/12) years. (As 1 year have 12 months.)

So,

Simple interest he has to give back to bank =

→ SI = (80000*12*7)/(100*12)

→ SI = Rs.5600 .

So, He has to give now, Principal money + Rs.5600 as interest back to the bank.

→ Amount = 80000 + 5600

→ Amount = Rs.85600

Hence, Ramesh paid Rs.85600 Total to the bank after 7 months..