Question

calculate the simple interest when the principal is 7707. the time is 2 years 4 months and the rate of interest is 6% per month.​

Answer 1

Answer:

The answer is 22,196.16.

Step-by-step explanation:

Formula of finding simple interest S.I. :- (P X R X T) / 100

Therefore, first convert 2 years and 4 months into months - 28 months

Then,

(7707 X 6 X 48) / 100

or, (7707 X 3 X 24) / 25 = 22,196.16

Therefore, the answer is 22,196.16 .

Answer 2

Given that,

→ Principal is Rs.7707

→ It is given that, time is 2 years 4 months. We need to convert it into years. Now, see the following calculation:

$\sf{\leadsto 12 \:months = 1\:year}$

$\sf{\leadsto 1 \:month = \dfrac{1}{12}}$

$\sf{\leadsto 4 \:months = \dfrac{1}{12} \times 4}$

$\sf{\leadsto 4 \:months = \dfrac{1}{3}}$

$\sf{\leadsto 4 \:months = 0.3\:years}$

Therefore,

$\sf{\leadsto 2\:years\:4 \:months = 2\:years+4\:months}$

$\sf{\leadsto 2\:years\:4 \:months = 2\:years+0.3\:years}$

$\leadsto \boxed{\bf{2\:years\:4 \:months = 2.3\:years}}$

Hence, the time period is 2.3 years.

(Note: You can also convert the time period in fractional form, as per your wish.)

→ Rate of Interest is 6% per month.

So, per year; the rate of interest will be 6×12 = 72%

Formula used:

As, we need to find the simple interest, we use the formula:

$\leadsto \boxed{\bf{Simple\:Interest = \dfrac{PRT}{100}}}$

where,

• P = Principal

• R = Rate of Interest

• T = Time period

Let us apply the above formula to find the required simple interest.

$\sf{\leadsto Simple\:Interest = \dfrac{7707 \times 72 \times 2.3}{100}}$

$\sf{\leadsto Simple \:Interest = \dfrac{1276279.2}{100}}$

$\leadsto \boxed{\bf{Simple\:Interest = Rs.12762.792}}$

Hence, the Simple Interest is Rs.12762.792