Question

A man borrowed Rs 4000 at 16% simple rate of interest per annum. What will the amount after 2 year​

Answer 1

Answer:

principal=4000

rate%=16

time taken=2

formula = P×R×T

100

4000×16×2

100 = 128000÷100 = 1280

Answer 2

Answer:

Sum borrowed by Atanu = Rs. 4000

Rate % = 12% per annum

Sum lent by Atanu = (4000 + x)

Rate at which sum lent by atanu = 16% per annum

Profit earned in entire transaction = Rs. 320

Formula Used:

Simple Interest = (Principal × Rate × Time)/100

Calculation:

Simple interest need to be paid by Atanu = (4000 × 12 × 1)/100

⇒ Simple interest need to be paid by Atanu = Rs. 480

Simple Interest earned by Atanu after lending Rs. (4000 + x) = Rs. 480 + Rs. 320 = Rs. 800

800 = [(4000 + x) × 16 × 1]/100

⇒ (4000 + x) = (800 × 100)/16

⇒ (4000 + x) = 5000

⇒ x = 5000 - 4000 = Rs. 1000

∴ The Sum added by Atanu while lending is Rs. 1000.