Question

Asha deposited Rs 1500 in savings bank .The bank offered a simple interest rate of 12 % p.a .Calculate the amount at the end of one year . ​

Answer 1

Answer = 1680

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Answer 2

➤ Given :-

Principle :- ₹1500

Rate of interest :- 12%

Time :- 1 year

➤ To Find :-

Amount at end of the year

➤ Formula required :-

${\tt \large \dashrightarrow \orange{\boxed{\tt \gray{Simple \: Interest + Principle}}}}$

How to do :-

Here, we are given that Asha deposits ₹1500 for 12% of rate and for 1 year. We should find the total amount. So, first we should find the simple interest by multiplying the principle, rate and time and then divide by 100 and then we should find the total amount by using the given formula.

➤ Solution :-

Simple Interest :-

${\tt \longrightarrow \dfrac{1500 \times 12 \times 1}{100}}$

${\tt \longrightarrow \dfrac{\cancel{1500} \times 12 \times 1}{\cancel{100}} = 15 \times 12 \times 1}$

${\tt \longrightarrow 15 \times 12 = \boxed{\tt 180}}$

Now,

Total amount :-

${\tt \longrightarrow 180 + 1500}$

${\tt \longrightarrow Rs \: \: 1680}$

$\Huge\therefore$ Asha will get ₹1680 after one year.

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$\dashrightarrow$ Some related formulas :-

Simple Interest :- ${\boxed{\tt\dfrac{P \times R \times T}{100}}}$

Principle :- ${\boxed{\tt\dfrac{SI \times 100}{R \times T}}}$

Rate of interest :- ${\boxed{\tt\dfrac{SI \times 100}{P \times T}}}$

Time :- ${\boxed{\tt\dfrac{SI \times 100}{P \times R}}}$