Question

a man borrowed rm10000 from a bank at 10.5% per annum. How much did he owe the bank at the end of 11 months?

Answer 1

Given:-

•Principal on 10000 rupees from a bank.

•Bank borrowed at the rate of 10.5% per annum.

•Man will pay at the end of 11 months time.

To Find:-

•Simple Interest he paid own the bank.

Solution:-

we have,

• Principal= 10000 rupees
• Rate= 10.5% per annum
• Time= 11 months

Using formula:

$\: \: \sf \: simple \: interest = \frac{principal \times rate \times time}{100}$

As we know

1 month = 12 months

Now substitute the known values

$\: \: \sf \: simple \: interest = \frac{10 \cancel 0 \cancel 0 \cancel 0 \times 105 \times 11}{1 \cancel0 \cancel 0 \times 12 \times 1 \cancel 0} \\ \\ \: \: \sf \: simple \: interest = 962.5 \: rupees$

Henceforth, Simple interest which paid by man is 962.5 rupees.

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Extra Info....

$\: \: \sf \implies \: principal = \frac{simple \: interest \times 100}{rate \: time} \\ \\ \: \: \sf \implies \: time = \frac{simple \: interest \times 100}{principal \times rate} \\ \\ \: \: \sf \implies \: rate = \frac{simple \: interest \times 100}{principal \times time} \\ \\ \: \: \sf \implies \: amount = principal + simple \: interest \\ \\ \: \: \sf \implies \: principal = amount - simple \: interest \\ \\ \: \: \sf \: simple \: interest = amount - principal$