Question

a man takes a loan of rupees 8000 at the interest rate of 8% per annum. how much does he pay at the end of 3 years to setlle his debt​

Answer 1

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⍟ AnsWer :

• The total amount paid by the man at the end of 3 years to settle his debt is Rs 9920

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★ GiVen :

• Principal rate = Rs 8000
• Interest Rate = 8% per annum
• Time given = 3 years

★ To Find :

We need to find how much does the man pay at the end of 3 years to setlle his debt.

★ SoluTion :

According to the formulas related to simple interest,

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➔S.I. = (Principal × Interest Rate × Time)/100

➔S.I. = (8000 × 8 × 3)/100

➔S.I. = Rs 1920

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Now, let us calculate the amount to bepaid at end of 3 years :-

➡Amount = Principal Rate + S. I.

➡Amount = 8000 +1920

➡Amount = 9920

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Answer 2

Question :–

A man takes a loan of rupees 8000 at the interest rate of 8% per annum. how much does he pay at the end of 3 years to setlle his debt.

Given :–

• Principal = Rs. 8,000
• Interest rate = 8% per annum.
• Time = 3 years.

To Find :–

• How much does he pay at the end of 3 years to setlle his debt.

Solution :–

Simple Interest → $\sf \dfrac{Principal \times Interest rate \times Time}{100}$

Now, put the values which are given in the question :–

→ $\sf \dfrac{80 \cancel{00} \times 8 \times 3}{1 \cancel{00}}$

→ 80 × 8 × 3

→ 80 × 24

→ 1,920

Hence,

● Simple Interest (S.I.) is Rs. 1,920.

Now, we have to find the amount to be paid at the end of 3 years :–

Amount = Principal + Simple Interest (S.I.)

• Principal = 8,000 [given]

• S.I. = 1,920 [solved above]

→ Rs. 8,000 + Rs. 1,920

→ Rs. 9,920

Hence,

● The amount to be paid at the end of 3 years is Rs. 9,920.