Question

Anju borrowed Rs. 15000 from bank at 8% interest per annum. After 1 year 6 months how much amount will she return to the bank?​

Answer 1

Solution!!

The concept of simple interest has to be used here. The principal, rate of interest and time is given. We have to find the amount. To do so, we have to find the interest.

Principal (P) = Rs 15000

Rate of interest (R) = 8%

Time (T) = 1 year 6 months

We know that,

12 months = 1 year

12 months + 6 months = 18 months

18 months = 18 ÷ 12 = 1.5 years

Time (T) = 1.5 years

Let's find out the interest!

Interest = (P × R × T)/100

Interest = (15000 × 8 × 1.5)/100

Interest = Rs 1800

We know the interest. Now, we can find the amount.

Amount = Principal + Interest

Amount = Rs 15000 + Rs 1800

Amount = Rs 16800

Answer 2

Answer:

$\large \underline {\sf \pmb{Given }}$

• Anju borrowed Rs. 15000 from bank at 8% interest per annum.

$\large \underline {\sf \pmb{To \: Find }}$

• After 1 year 6 months how much amount will she return to the bank?

$\large \underline {\sf \pmb{Using \: Formulae}}$

$\circ{\underline{\boxed {\sf \purple{Interest = \dfrac{P \times R \times T}{100}}}}}$

$\circ {\underline {\boxed{\sf \purple{Amount = Principal + Interest }}}}$

$\large \underline{ \sf \pmb{Solution}}$

Here 1 year 6 months converting into years

As we know that

$: \implies \sf{1 \: month = \dfrac{1}{12} }$

So,

$: \implies \sf{6 \: months = 1 + \dfrac{6}{12}}$

$: \implies \sf{ 1 + \cancel\dfrac{6}{12}}$

$: \implies \sf{1 + 0.5}$

$: \implies \sf{1.5} \: years$

$\circ\underline{ \boxed {\sf \purple{T = 1.5 years }}}$

$\bigstar \: \underline \frak{Now,Finding \: the \: Interest }$

$: \implies{\sf{Interest = \dfrac{P \times R \times T}{100}}}$

• Substituting the values

$: \implies{\sf{Interest = \dfrac{15000\times 8\times 1.5}{100}}}$

$: \implies{\sf{Interest = \dfrac {\cancel{15000}\times 8\times 1.5} {\cancel{100}}}}$

$: \implies{\sf{Interest ={150}\times 8\times 1.5}}$

$: \implies{\sf{Interest =Rs.1800}}$

$\circ\underline {\boxed{\sf{ \purple{Interest =Rs.1800}}}}$

$\bigstar \: \underline\frak{Finding \: the \: total \: amount }$

${: \implies{\sf{Amount = Principal + Interest }}}$

• Substituting the values

${: \implies{\sf{Amount = 15000 + 1800}}}$

${: \implies{\sf{Amount = Rs.16800}}}$

$\circ\underline {\boxed{\sf{ \purple{Amount = Rs.16800}}}}$

$\large \underline{ \sf \pmb{Therefore}}$

• ★ Anju will return Rs.16800 to the bank..

$\large \underline{\sf \pmb{More \: Useful \: Formulae}}$

★ Formula of Simple Interest (S.I)

• $: \implies\sf \green{S.I = \dfrac{P \times R \times T}{100}}$

★ Formula of Compound Interest (C.I)

• $: \implies \sf \green{C.I =P \bigg( 1 + \dfrac{r}{n} {\bigg)}^{nt} }$

★ Formula of Principle(P) if Amount and Interest given

• $: \implies\sf \green{P=Amount - Interest}$

★ Formula of Principle (P) if Interest,time and rate given

• $: \implies\sf \green{P = \dfrac{Interest \times 100 }{Time \times Rate} }$

★ Formula of Principle (P) if amount,time and rate given

• $: \implies\sf \green{P = \dfrac{Amount\times 100 }{100 + (Time \times Rate)} }$

★ Formula of Amount if Principle (P) and Interest (I) given

• ${: \implies \sf \green{Amount = Principle + Interest }}$