Question

Find the amount from the investment of rupees 4500 for two years at 5 paise per rupee interest.

Answer 1

S. I=4500×2×5/100×100=4.5 paise

Amount =4500+4.50=4504.50 paise

Answer 2

Given :

Investment of Rs. 4500 at 5 paise per rupee interest for 2 years.

To Find :

Final amount after maturity for 2 years.

Solution :

100 paisa = 1 Rupee

Converting 5 paisa to rupee.

5 paisa =  = 0.05 Rupee

∵ Interest will be paid per rupee = 0.05 rupee

∴ for 4500 Rs. interest will be paid = 4500 × 0.05

                                                         = 225 Rs.

∴ For two years interest will be = 225 × 2

                                                  = 450 Rs.

Final amount = Principal amount + Interest

                     = 4500 + 450

                     = 4950 Rs.

Final amount from the investment of 4500 Rs. would be 4950 Rs.