Question

Ali borrowed Rs.12000 from ABC bank and pays Rs15000 after ‘t’ years. If the rate of S.I is 10 percentp.a, then t=?

Answer 1

Answer:

2.5 yrs

Step-by-step explanation:

S.I = (PTR)/100

Answer 2

If the rate of S.I is 10% p.a, then t is 2.5 years.

Step-by-step explanation:

The sum that Ali borrowed from the bank ABC, P = Rs. 12000

After “t” years, Ali pays back i.e., Amount = Rs. 15000

Rate of interest, R% = 10% p.a.

Required formula:

(i) S.I. = $\frac{PRT}{100}$

(ii) Amount = P + S.I.

Now, based on the formula in (i) and substituting the given values, we get

S.I. = [12000 * 10 * t] / 100

⇒ [Amount – P] = [12000 * 10 * t] / 100 ……. [substituting from formula (ii)]

⇒ [15000 – 12000] = [1200 * t]

⇒ t = 3000/1200

⇒ t = 2.5 years

Thus, the value of the time period “t” = 2.5 years.

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