Question

Calculate the time in which rs2500 would become rs2750 at an interest rate of 8% per annum​

Answer 1

Answer:

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Step-by-step explanation:

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Answer 2

Given :

Principle : ₹2500

Total Amount : ₹2750

Rate of interest : 8%

To find :

The time in which it is applied to the given loan.

Solution :

To find the time, first we should find the simple interest.

Simple interest :

$\sf \dashrightarrow 2750 - 2500$

$\sf \dashrightarrow Rs.250$

Now, we can find the time.

Time :

$\sf \dashrightarrow Simple \: Interest = \dfrac{P \times R \times T}{100}$

$\sf \dashrightarrow 250 = \dfrac{2500 \times 8 \times T}{100}$

$\sf \dashrightarrow 250 = \dfrac{25 \times 8 \times T}{1}$

$\sf \dashrightarrow 250 = \dfrac{200 \times T}{1}$

$\sf \dashrightarrow T = \dfrac{250 \times 1}{200}$

$\sf \dashrightarrow T = \dfrac{250}{200}$

$\sf \dashrightarrow T = \dfrac{5}{4} = 1.25 \: years$

Hence, the time period of the loan is 1.25 years (1 year 3 months).

Verification

$\sf \dashrightarrow Simple \: Interest = \dfrac{P \times R \times T}{100}$

$\sf \dashrightarrow 250 = \dfrac{2500 \times 8 \times 5}{100 \times 4}$

$\sf \dashrightarrow 250 = \dfrac{25 \times 8 \times 5}{1 \times 4}$

$\sf \dashrightarrow 250 = \dfrac{200 \times 5}{4}$

$\sf \dashrightarrow 250 = \dfrac{1000}{4}$

$\sf \dashrightarrow 250 = 250$

$\sf \dashrightarrow LHS = RHS$