Question

Find the amount and interest of $5000 kept for 2 years at 7percent rate of interest

Answer 1

Step-by-step explanation:

----------------------------------------------------------------------

Given :

Principal = $ 5000

Rate of Interest = 7% per annum

Time = 2 years

----------------------------------------------------------------------

To find :

Interest and Amount after 2 years.

----------------------------------------------------------------------

According to question,

Simple Interest = $\frac{PRT}{100}$ (∴ Here P = principal ,R = Rate of Interest ,T = Time.)

Simple Interest = 5000 x 7 x 2 / 100

Simple Interest = $ 700

∴Amount = Principal + Interest

 Amount = $ 5000 + $ 700

 Amount = $ 5700

----------------------------------------------------------------------

⇒ Here, the INTEREST is $700.

   And the AMOUNT is $ 5700.

Answer 2

Answer:

$\large\underline{\underline{\bigstar{\textbf{\textsf{\: Given\::-}}}}}$

• ➽ Principle = $5000
• ➽ Time = 2 years
• ➽ Rate of Interest = 7%

$\begin{gathered}\end{gathered}$

$\large\underline{\underline{\bigstar{\textbf{\textsf{\: To Find\::-}}}}}$

• ➽ Interest
• ➽ Amount

$\begin{gathered}\end{gathered}$

$\large\underline{\underline{\bigstar{\textbf{\textsf{\: Using Formulae\::-}}}}}$

$\quad\dag{\underline{\boxed{\sf{S.I = \dfrac{P \times R \times T}{100}}}}}$

$\quad\dag{\underline{\boxed{\sf{A = P + I}}}}$

Where

• ➽ S.I = Simple Interest
• ➽ P = Principle
• ➽ R = Rate
• ➽ T = Time
• ➽ A = Amount

$\begin{gathered}\end{gathered}$

$\large\underline{\underline{\bigstar{\textbf{\textsf{\: Solution\::-}}}}}$

$\dag{\underline{\underline{\pmb{\frak{\red{Calculating \: the \: Simple Interest ...}}}}}}$

$\quad{\longmapsto{\sf{S.I = \dfrac{P \times R \times T}{100}}}}$

• Substuting the values

$\quad{\longmapsto{\sf{S.I = \dfrac{5000 \times 7 \times 2}{100}}}}$

$\quad{\longmapsto{\sf{S.I =\dfrac{70000}{100}}}}$

$\quad{\longmapsto{\sf{S.I = \cancel\dfrac{70000}{100}}}}$

$\quad{\longmapsto{\sf{S.I ={\ 700}}}}$

$\quad\bigstar{\underline{\boxed{\pmb{\sf{\purple{S.I ={\ 700}}}}}}}$

∴ The Simple Interest is $700.

$\begin{gathered}\end{gathered}$

$\dag{\underline{\underline{\pmb{\frak{\red{Now,Calculating \: the \: Amount...}}}}}}$

$\quad{ : \implies{\sf{A = P + I}}}$

• Substuting the values

$\quad{ : \implies{\sf{A = 5000 + 700}}}$

$\quad{ : \implies{\sf{A = \ 5700}}}$

$\quad{\bigstar{\underline{\boxed{\pmb{\sf{\purple{A = \ 5700}}}}}}}$

∴ The Amount is Rs $5700.

$\begin{gathered}\end{gathered}$

$\large\underline{\underline{\bigstar{\textbf{\textsf{\: Learn More\::-}}}}}$

$\quad\dag{\underline{\boxed{\sf{\red{A ={P{\bigg(1 + \dfrac{R}{100}{\bigg)}^{T}}}}}}}}$

$\quad\dag{\underline{\boxed{\sf{\red{Amount = Principle + Interest}}}}}$

$\quad\dag{\underline{\boxed{\sf{\red{ P=Amount - Interest }}}}}$

$\quad\dag{\underline{\boxed{\sf{\red{ S.I = \dfrac{P \times R \times T}{100}}}}}}$

$\quad\dag{\underline{\boxed{\sf{\red{P = \dfrac{Amount\times 100 }{100 + (Time \times Rate)}}}}}}$

$\quad\dag{\underline{\boxed{\sf{\red{P = \dfrac{Interest \times 100 }{Time \times Rate}}}}}}$

$\quad\dag{\underline{\boxed{\sf{\red{Rate = \dfrac{Simple \: Interest \times 100}{Principle \times Time}}}}}}$

$\quad\dag{\underline{\boxed{\sf{\red{ Time= \dfrac{Simple \: Interest \times 100}{Principle \times Rate}}}}}}$

▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬