Question

A sum of 10000 is borrowed at a rate of interest 15% per annum for 2 years .Find the simple interest on this um and the amount to be paid at the end of 2 years

Answer 1

Answer:

let ' A ' be the total amount to be paid at the end of 2  years and ' I ' be the simple interest for two years .

P = 10000

rate of interest , r = 15

number of years , n = 2

we know that ,

simple interest , I = Pnr / 100

                           I = ( 10000 * 2 * 15 ) / 100

                           I = 3000.

now ,

total amount to be paid , A = P + I

                                          A = 10000 + 3000

                                          A =  ₹ 13000.

Thus you got the answer !

Hope it helps !

Answer 2

Given,

• Principal = ₹10000
• Rate of Interest = 15%
• Time = 2 Years

Now We Know that :

$\boxed{\bold{Simple \ Interest = \frac{P \times R \times T}{100}}}$

$\implies \bold{\frac{10000 \times 15 \times 2}{100}}$

$\implies \bold{100 \times 15 \times 2}$

$\implies \boxed{\bold{Rs.3000}}$

Amount to be paid at the end of 2 years :

Amount = Principle + Simple Interest

Amount = ₹10000 + ₹3000

Amount = ₹13000

$\rule{200}2$

• Principal - It is the money borrowed
• Interest - Interest is the money paid by the borrower to the moneylender .
• Rate of Interest - Rate of interest is the ratio of interest charged in one unit of time to the Principal .
• Time - It is the time for which the money is borrowed .