Question

6. A sum of Rs 10,000 is borrowed at a rate of interest 15%p.a. for 2 years. Find simple interest and the amount to be paid at the end of 2 years.

Answer 1

$SI = \frac{P×R×T}{100}$

$Principal = 10,000$

$Rate = 15 \: \%$

$Time = 2 \: years$

$SI = \frac{10,000 \times15 \times 2 }{100}$

$SI = \frac{3,00,000}{100}$

$SI = 3,000$

$Interest \: will \: be \: Rs \: 3,000 \: at \\ the \: end \: of \: 2 \: years$

$Amount = 10,000 + 3,000 \\ = 13,000$

Answer 2

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$\sf{\underline{\overline{\orange{Answer :-}}}}$

The amount to be paid at the end of 2 years = ₹ 13,000

$\sf{\underline{\overline{\pink{Given :-}}}}$

P = 10, 000

R = 15%

T = 2 Years

$\sf{\underline{\overline{\red{To\: Find :-}}}}$

Simple Interest = ?

Amount = ?

$\sf{\underline{\overline{\green{Explanation :-}}}}$

Case 1 –

Find the simple interest = ?

$\sf{\underline{\overline{\red{Formula \:used :-}}}}$

SI = P × R × T/100

Putting the values according to the given formula:

➠ 10,000 × 15 × 12/100

➠ 100 × 15 × 12

➠ ₹ 3,000

Hence, the simple interest = ₹ 3,000

Case 2 –

Find the amount = ?

$\sf{\underline{\overline{\red{Formula \:used :-}}}}$

Amount = P + SI

Putting the values according to the given formula:

➠ Amount = ₹10,000 + ₹3,000

➠ Amount = ₹13,000

Hence, the amount to be paid at the end of 2 years = ₹13,000

Additional Information:

Here –

P is used for Principal

R is used for Rate of Interest

T is used for Time

SI is used for Simple Interest

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