Question

A money lender lends Rs.2000 for six months at 20% p.a. rate. It the interest is reckoned quarterly than find the amount given after time limit.​

Answer 1

$\red{\textbf{Answer}}$ ➧ 2205

Step-by-step explanation:

$\blue{\texttt{Given \: that :-}}$

A money lender lends Rs.2000 for six months at 20% p.a. rate.

Let ,

$\blue{\texttt{Principal \: = \: P }}$

$\blue{\texttt{Rate \: = \: R}}$%$\blue{\texttt{ per \: annum }}$

$\blue{\texttt{Time \: = \: n \: years }}$

$for \: the \: quarterly \: interest$,

$\red{\textbf{Time}}$ ➧$(6 /12)year \times 4$

$= 2 \: quarterly$

$\red{\textbf{Rate}}$ ➧ $\large\frac{20}{4} = 5%$

(∴ On quarterly interest time is multiplied by 4 and rate is divided by 4)

hence,

$\red{\textbf{Required \: amount}}$ =

$principal(1 + rate/100 {)}^{time}$

$= 2000(1 + 5/10 {)}^{2}$

$= 2000(21/20 {)}^{2}$

$= RS = 2205$

$\blue{\texttt{so, \: the \: amount \: given \: after }}$$\blue{\texttt{Time \: limit \: is \:}}$$\red{\textbf{2205}}$

Answer 2

Answer:

Given :-

• Principal = 2000
• Time = 6 months
• Rate = 20% per annum

To Find :-

Amount

Solution :-

Quarterly Interest =

(6/12)year × 4

1/2 × 4

1 ×2

2 quarterly

Rate = 20/4 = 5%

Amount = P(1 + R/100)ⁿ

Amount = 2000 (1 + 5/100)²

Amount = 2000(100 + 5/100)²

Amount = 2000(105/100)²

Amount = 2000(21/20)²

Amount = 2000 × 21/20 × 21/20

Amount = 20 × 21/2 × 21/2

Amount = ₹2205

Know More :-

• Compound Interest = Amount - Principal
• Simple Interest = Principal × Rate × Time/100
• Time = SI × 100/Principal × Rate
• Rate = SI × 100/P × T
• Principal = SI × 100/ R × T