Question

₹6.050 is borrowed at 6.5% rate of interest p.a. Find the interest and the amount to be paid at the end of 3 years.

Answer 1

To Find:-

• The Simple Interest
• The amount to be paid at the end of 3years

Given:-

• Principal ( P ) = Rs. 6.050
• Rate ( R ) = 6.5 %
• Time ( T ) = 3 years

Solution:-

• Simple Interest

$\sf{S.I. = \dfrac{P \times R \times T}{100}}$

step-by-step explanation:

$S.I. = \dfrac{6.050 \times 6.5 \times 3}{100}$

$\dfrac{117.975}{100}$

= Rs. 1.17975

• Amount

$\sf{Amount = S.I. + Principal}$

$A = 1.17975 + 6.050$

Amount = Rs. 7.22975

Required Answer

• The Simple Interest = Rs. 1.17975

• Amount = Rs. 7.22975

Answer 2

Question

6.pro is borrowed at 6.5% rate of interest p.a find the interest and the amount to be paid at end of 3 years .

Given

• Rs 6.050 is borrowed at 6.5% rate of interest p.a

Required to Find

•Simple interest

•Amount to be paid at end of 3 years

Formula need to use

Formula for Simple interest

Interest = principle × Rate of interest × Time taken

Formula for amount to be paid

Amount = Principle + Simple interest

Solution

Let interest be x

P = Principal amount borrowed.

I = Interest to be paid at the end of 3 years

I = ( P × R × T )/ 100

R = Rate of interest

T = Time period or time taken by the borrower.

P = 6050

R = 6.5

T = 3

x = ( 6050 × 6.5 × 3 ) / 100

x = ( 6050/100) × 6.5 × 3

x = ( 60.5 ) × 6.5 × 3

therefore

Simple interest = 1179.75

Amount = Principal + simple intrest

= 6050 + 1179.75 = 7229..75

Hence,

Hence,Amount to be paid after 3 years is 7,229.75

We got

• Simple interest = 1179.75
• Amount to be paid after 3 years = 7,229.75