Question

A man deposited Rs 5600 in a company that gives an interest of 10 1/2% p.a interest find the amount he gets at the end of 9 months

Answer 1

here the required amount is Rs 6041 when
given
principal =5600/-
rate =101/2 %p. a.
time = 3/4year
so
I =prt/100
=
$5600 \times 21 \times 3 \div 100$
=441/-
then
amount =Rs 5600+Rs 441
=6041

Answer 2

The amount is Rs. 6041.

Given,

A man deposited Rs. 5600 in a company that gives an interest of 10 1/2% p.a interest.

To Find,

The amount he gets at the end of 9 months =?

Solution,

We can solve the question as follows:

It is given that a man deposited Rs. 5600 in a company that gives an interest of 10 1/2% p.a interest. We have to find the amount he gets at the end of 9 months.

$Principal = Rs.\: 5600$

$Interest = 10\frac{1}{2}$% $= \frac{21}{2}$%

Since the time period is in months, we will convert it into years.

$12\: months = 1\: year$

Then,

$9\: months = \frac{1}{12} *9 = \frac{3}{4}\: year$

Now, we will first find the simple interest.

The formula for finding the simple interest is:

$Simple\: interest = \frac{Principal*Rate*Time}{100}$

Substituting the values in the above formula,

$Simple\: interest = \frac{5600*\frac{21}{2}*\frac{3}{4} }{100}$

                         $= \frac{5600*\frac{63}{8} }{100}$

                         $= \frac{700*63}{100}$

                         $= 7*63 = Rs.\: 441$

The simple interest is equal to Rs. 441.

Now, the formula for finding the final amount is:

$Amount = Principal + Simple\: interest$

$Amount = 5600 + 441 = Rs.\: 6041$

Hence, the final amount is Rs. 6041.