Question

Anjali brows ₹ 19,000 at 6 1/2 % for two years . At the end of 2 years she pays ₹ 15000 and a gold ring to the money lender . What is the value of the gold ring

Answer 1

Question :-

Anjali brows ₹ 19,000 at 6 1/2 % for two years . At the end of 2 years she pays ₹ 15000 and a gold ring to the money lender . What is the value of the gold ring.

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Solution :-

Given Information :-

• $1.) \: \: \: \bf{principal = Rs. \: 19000}$
• $2.) \: \: \: \bf{rate = 6 \frac{1}{2} \%}$
• $3.) \: \: \: \bf{time = 2 \: years}$
• $4.) \: \: \: \bf{money \: repaid = Rs. \: 15000}$

Calculation :-

$\boxed{ \bf\red{ \underline{ \underline{formula \: used :- }}}}$

$\red \maltese \: \small\boxed { \bf{simple \: interest = \frac {principal \times rate \times time}{100} }}$

Putting the Given Information,

Putting the Given Information, We get,

$\red \implies \small \bf{simple \: interest = \frac{19000 \times 2 \times 2}{100 \times 13} }$

$\red \implies \small \bf{simple \: interest = \frac{190 \cancel{0} \cancel{0} \times 2 \times 2}{1 \cancel{0} \cancel{0} \times 13} }$

$\red \implies \bf{simple \: interest = \frac{760}{13} }$

$\small\red \implies \small \bf{simple \: interest = Rs. \: 58.46}$

$\small \red \therefore \small\boxed{ \small \bf{amount = principal + simple \: interest}}$

$\red \therefore \bf{amount = 19000 + 58.46} \\ \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \:\: \:\: \: \bf{=Rs.19058.46}$

Now as given in the question above,

• $\bf{money \: returned = Rs. \: 15000}$

Now, to find the value of the gold ring, we will subtract the "money returned" from the "amount" calculated above,

$\purple \maltese \: \small \bf{value \: of \: ring = amount - money \: returned}$

$\small \bf{</em><em>\</em><em>:</em><em> </em><em>\</em><em>:</em><em> </em><em>\: </em><em>\: \:</em><em>value \: of \: ring = 19058.46 - 15000}$

$\red\therefore \bf{value \: of \: ring = </em><em>R</em><em>s. \: 4058.46}$

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Final Answer :-

${ \huge \orange \dag} \boxed {\bf \purple{value \: of \: ring = </u><u>R</u><u>s. \: 4058.46}} \huge \orange \dag$

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Answer 2

The Value of the Gold ring is ₹ 6470.

Given

• Principal = ₹ 19000
• Rate = 6½% = 13/2%
• Time = 2 Years

Explanation:

FORMULA

$\maltese {\boxed{\underline{\sf{ Simple \ Interest = \dfrac{P \times R \times T}{100} }}}}$

Where as:

• P = Principal
• R = Rate
• T = Time

Now, We can find Simple Interest after two years as:-

$\colon\implies{\sf{ SI = \dfrac{PRT}{100} }} \\ \\ \\ \colon\implies{\sf{ SI = \dfrac{19000 \times \left( \dfrac{13}{2} \right) \times 2 }{100} }} \\ \\ \\ \colon\implies{\sf{ SI = \dfrac{19000 \times 13 \times \cancel{2} }{100 \times \cancel{2} } }} \\ \\ \\ \colon\implies{\sf{ SI = \dfrac{190\ \cancel{00} \times 13}{1 \cancel{00} } }} \\ \\ \\ \colon\implies{\sf{ SI = 190 \times 13 }} \\ \\ \\ \colon\implies{\sf{ SI = 2470 }}$

So, Simple Interest after 2 Years will be ₹ 2470 .

Now,

Total Amount after completing 2 Years will be :-

$\circ{\boxed{\underline{\sf{ Amount = Principal + Interest }}}} \\ \\ \colon\implies{\sf{ Amount = 19000 + 2470 }} \\ \\ \\ \colon\implies{\sf{ Amount = 21470 }}$

Since, Total Amount after two Years will be ₹ 21470

So, We can Subtract amount that she pays after two years :-

$\colon\implies{\sf{ 21470 - 15000 }} \\ \\ \colon\implies{\boxed{\mathfrak\pink{ 6470 }}}$

Hence,

• The Value of the Gold ring is ₹6470