Question

A sum of Rs 700 was lent for 10 years at rate of 15% per annum. Find the interest and amount.​

Answer 1

Answer:

105000 is it correct

am I correct

Answer 2

Answer:

The simple interest is Rs. 1050 and the amount is Rs. 1750.

Step-by-step explanation:

In context to the question asked,

We have to find the simple interest and amount,

As per data given in the question,

We have,

Principal ( P ) = Rs. $700$

Rate of interest ( R ) = $15$%

Time ( T ) = $10$ years

For calculating the simple interest:

The formula to be used:-

$S.I = \frac{P \times R \times T}{100}$

Substitute the given values:

$=> S.I = \frac{700\times 15 \times 10}{100}$

$=> S.I = \frac{105000}{100}$

$=> S.I = Rs.1050$

For calculating the amount:

The formula to be used:-

$=> A = P + S.I$

$=> A = 700+ 1050$

$=> A = 1750$

Hence, the required simple interest is Rs. 1050 and the amount is Rs. 1750.