Question

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

Answer 1

Answer:

The interest is Rs. 1050

Total amount is Rs. 1750

Step-by-step explanation:

A sum of rs. 700 was lent for 10 years at the rate of 15% per annum

Total simple interest for 10 years =700× 15/100 × 10 =1050

Hence, total amount is (700+1050) = 1750

Answer 2

Given:

A sum of Rs 700 was lent for 10 years at the rate of 15% per annum.

To Find:

Find the interest and amount?​

Solution:

We are given an amount of Rs700 which was lent for 10 years at the rate of 15% p.a. and we need to find the simple interest and amount at the end of 10 years.

To find the interest we use a formula of simple interest which goes as,

$SI=\frac{PRT}{100}$

where,

         SI= simple interest

          P= principal amount

          T= time

          R= rate of interest

Now put the values in the formula to get the value of interest,

$SI=\frac{700*15*10}{100} \\=1050$

So the interest after 10 years is Rs1050 and the amount will be principal amount plus the interest received after 10 years,

Amount=700+1050

            =1750

Hence, the interest and amount will be 1050 and 1750 respectively.