Question

Arun took a loan from a bank at 2% per annum after sometime we paid back the loan by paying 77000 if the interest was rupees 7000 find the time period of the loan​

Answer 1

$\sf{\underline{\boxed{\large{\blue{\mathsf{Solution}}}}}}$

$\sf{\bold{\green{\underline{\underline{Given}}}}}$

• Interest = Rs. 7000
• Amount = Rs. 77000
• Rate = 2%

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$\sf{\bold{\green{\underline{\underline{To\:Find}}}}}$

• Time = ???

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$\sf{\bold{\green{\underline{\underline{Solution}}}}}$

$\sf{\red{\boxed{\bold{Amount = Principle + Interest}}}}$

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$\sf: \implies \:{\bold{ 77000 = principle + 7000}}$

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$\sf: \implies \:{\bold{ principle = 77000 - 7000}}$

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$\sf: \implies \:{\bold{ principle = Rs. 70000}}$

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$\sf{\red{\boxed{\bold{Interest =\dfrac{p \times r\times t}{100}}}}}$

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$\sf: \implies \:{\bold{ 7000 = \dfrac{70000\times 2 \times t }{100}}}$

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$\sf: \implies \:{\bold{ 7000 = 700\times 2 \times t}}$

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$\sf: \implies \:{\bold{ t = \dfrac{7000}{700\times 2}}}$

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$\sf: \implies \:{\bold{ t = \dfrac{70}{7\times 2}}}$

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$\sf: \implies \:{\bold{ t = \dfrac{10}{2}}}$

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$\sf: \implies \:{\bold{ t = 5years}}$

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$\sf{\bold{\green{\underline{\underline{Answer}}}}}$

• Rs. 70000 will amount to 77000 at 2% per annum in 5 years

Answer 2

Step-by-step explanation:

kindly refer to attachment