Question

A farmer borrowed * 36000 at 12% per annum from
another farmer. At the end of 3 years he cleared the
amount. How much amount did he pay?​

Answer 1

➤ Given :-

Principle :- ₹36000

Rate of interest :- 12%

Time :- 3 years

$\:$

➤ To Find :-

The total amount to be paid at end of the period.

$\:$

➤ Formula required :-

${\large \dashrightarrow \orange{\boxed{\tt \gray{Simple \: Interest + Principle}}}}$

$\:$

★ How to do :-

Here, we are given with the principle amount, the rate of interest and the time taken to give back money. We are asked to find the total amount that the farmer returns back at end of the period. So, first we should find the simple interest by multiplying the principle, rate and time and then divide by 100. The obtained answer will be the simple interest. Later, to find the total amount we can find it by adding the simple interest and the principle amount i.e, the given formula.

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➤ Solution :-

Simple Interest :-

${\tt \leadsto Simple \: Interest :- \: \dfrac{P \times R \times T}{100}}$

Substitute the values.

${\tt \leadsto \dfrac{36000 \times 12 \times 3}{100}}$

Reduce the numbers in the lowest form by cancellation method.

${\tt \leadsto \dfrac{\cancel{36000} \times 12 \times 3}{\cancel{100}} = \dfrac{360 \times 12 \times 3}{1}}$

${\tt \leadsto 360 \times 36 = \boxed{\tt 12960}}$

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Now, we have found the simple interest, so we can find the total amount.

Total Amount :-

${\tt \leadsto 36000 + 12960}$

${\tt \leadsto \boxed{\tt Rs \: \: 48960}}$

$\Huge\therefore$ The total amount to be returned back to other farmer is ₹48960.

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$\dashrightarrow$ Some related formulas :-

$\small\boxed{\begin{array}{cc}\large\sf\dag \: {\underline{More \: Formulae}} \\ \\ \bigstar \: \sf{Principle :- \dfrac{SI \times 100}{R \times T}} \\ \\\bigstar \: \sf{Rate \: of \: Interest :- \dfrac{SI \times 100}{P \times T}} \\ \\ \bigstar \: \sf{Time :- \dfrac{SI \times 100}{P \times R}}\end{array}}$

Answer 2

Answer:

• Simple Interest = ₹12960
• Amount = ₹48,960

Step-by-step explanation:

Given-

• Principal = ₹36000
• Rate of Interest = 12%
• Time = 3 years.

ㅤ

To find-

• Simple Interest.
• Amount.

ㅤ

Solution-

Finding simple interest prior finding the amount.

Formula -

• $\tt\red{Simple Interest=\frac{time×rate×principal}{100}}$

ㅤ

$= \frac{36000 \times 12 \times 3}{100} \\ \\ = 360 \times 12 \times 3 \\ \\ = 360 \times 36 \\ \\ = 12,960$

$\blue\bigstar$So, simple interest is ₹12,960.

ㅤ

Let's find the amount.

Formula-

• $\tt\red{Amount=Principal+simple\:interest}$

ㅤ

$= 36000 + 12960 \\ \\ = 48,960$

$\purple\bigstar$So, amount is ₹48,960