Question

A sum of rupees 10,000 is borrowed at a rate of interest 15% per annum for 2 years. Find the simple interest on the sum and the amount to be paid at the end of 2 years.​

Answer 1

$\huge\sf{Given}$

‣ Sum of Rs 10,000.

‣ Interest 15% per annum for 2 years.

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

$\huge\sf{To\: find}$

‣ Simple interest on the sum.

‣ The amount to be paid at the end of 2 years.

⠀⠀⠀

$\huge\sf{Solution}$

On Rs 100, interest charged for 1 year is Rs 15.

So, on Rs 10,000,

Interest charged = $\sf{\dfrac{15}{100} × 10000}$

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀$\sf{= Rs 1500}$

•°• Simple interest on the sum is Rs 1500.

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀

Interest for 2 years $\sf{= Rs 1500 × 2}$

$\sf{= Rs 3000}$

Amount to be paid at the end of 2 years

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀= Principal + Interest

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀$\sf{= Rs 10000 + Rs 3000}$

⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀⠀$\sf{= Rs 13000}$

•°• The amount to be paid at the end of 2 years. is Rs 13000.