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A sum of money put at 11% per annum amounts to Rs. 4491 in 2 years 3 months. What will it amount to in 3 years at the same rate?
Answers
- Rate of interest = 11%
- Amount = Rs.4491
- Time period = 2 years 3 months
- How much will it amount to in 3 years with the same rate of interest.
Simple Interest :
Amount:
______
»» Here first of all we would be calculating the simple interest taken by using the given formula and applying all the required values. But here we don't know the value of principal so we would assume it be y and substitute the values.
»» After that we would use the formula of calculating amount where, amount is already given to us that usage of formula would gave us the value of y that is Principal.
»» Further we would again use the given formula of calculating the Simple Interest and apply all the values and the value of y as the calculated Principal and solve it further.
______
Now let's solve it!!
Applying the formula of calculating the Simple Interest and inserting the values. With converting the time into proper time as 2 years 3 months can't be used directly.
Converting 27 months into year:
Now applying values in the given formula:
Now, using the formula of calculating the amount and substituting the required values:
Given,
- Amount = Rs.4491
- Principal = y
We know that,
- Amount = Simple Interest + Principal
Now,
Applying the value of amount:
Cross multiplying:
Thus, value of y is 3600. Again using the formula of Simple Interest and formula of calculating the amount. It's the last step then we would get our final answer.
Given,
- Principal = Rs.3600
- Time = 3 years (According to the statement)
- Rate = 11%
Calculations:
Here again using the given formula of amount to calculate the amount of 3 years:
Given,
- Principal = Rs.3600
- Simple Interest = Rs.1188
Formula,
- Amount = Principal + Simple Interest
Substituting values:
- It will amount to Rs.4788 in 3 years at the same rate of interest.
Answer:
- Amount = Rs.4491
- Rate of Interest = 11%
- Time = 2 years 3 months
- Amount of 3 years
Where
- P = Principle
- S.I = Simple Interest
- R = Rate of Interest
- T = Time Period
- A = Amount
- Amount = Rs.4491
- Rate of Interest = 11%
- Time = 2 years 3 months
- Converting 2 years 3 months into years
- Substituting the values
- Substituting the values
- The Principle is Rs.3600.
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
- Substituting the values
- Substituting the values
- The Amount is Rs.4788 in 3 years at the rate of 11%..
- You can solve this question by second method also with is already answered by @poonamtikka87100.
- Here is the question link : https://brainly.in/question/42759939