Question

At the rate of 8 1/2%p.a. simple interest, a sum of Rs.4800 will earn how much interest in 2 years 3 months?

Answer 1

The interest earned will be Rs.918.....
But the Amount will be Rs.5718
R=17/2%
P=4800
T=9/4yrs.
S.I.=PRT/100
=[(17/2)×4800×9/4]/100
=17×600×9/100
=918

Answer 2

Given: Rate of Interest = $8\frac{1}{2}$ % p.a.

           Principal = Rs. 4,800

           Time = 2 years 3 months

To find: Simple Interest

Solution: Given that,

Rate of interest (R) = $8\frac{1}{2}$ % or $\frac{17}{2}$ % p.a.

Principal (P) = Rs. 4,800

Time (T) = 2 years 3 months i.e., $\frac{9}{4}$ years

∵ $Simple \ Interest = \frac{Principal \ * \ Rate \ of \ interest \ * \ Time}{100}$

⇒ $\frac{4800 \ * \ \frac{17}{2} \ * \ \frac{9}{4} }{100}$

⇒ $\frac{4800 \ * \ 17 \ * \ 9}{100 \ * \ 2 \ * \ 4}$

⇒ $918$

Hence, simple interest on Rs. 4800 at 8 1/2% p.a. rate of interest for 2 years 3 months is Rs. 918.