Question

Arun took a loan of rupees 600 for 3÷2 years with interest at the rate of 4 percent per annum. Find the interest he pays by after 3÷2 years . Also calculate the amount he pays back after 3÷2 years

Answer 1

Answer:

Interest=Rs.36

Amount=Rs.636

Step-by-step explanation:

P= Rs.600

T= 3/2 years

R=  4%

S.I.= 600x3x4/100x2= Rs 36

Amount= Rs(600+36)=  Rs.636

Answer 2

Given:

Arun took a loan of rupees 600 for 3÷2 years with interest at the rate of 4 percent per annum.

To Find:

Find the interest he pays by after 3÷2 years . Also calculate the amount he pays back after 3÷2 years

Solution:

Principal = Rs.600

Time =$\frac{3}{2}$

Rate of interest = 4%

Formula:

$SI=\frac{P \times T \times R}{100}$

SI = Simple interest

P = Principal

T = time

R = rate of interest

Substitute the values in the formula:

$SI=\frac{600 \times \frac{3}{2} \times 4}{100}$

SI=36

He paid Rs.36 as interest

Amount = Principal + Interest = 600+36=636

Hence He pays back Rs.636 after 3÷2 years and He paid Rs.36 as interest