Question

find the amount of a loan of rupees 5000 at 5 % per year for 5 years​

Answer 1

➤ Given :-

Principle :- ₹ 5000

Rate of interest :- 5%

Time :- 5 years

➤ To Find :-

Total amount on the given sum..................

➤ Formula required :-

$\large \tt \dashrightarrow \orange{ \boxed{ \tt \gray{ \dfrac{P \times R \times T}{100} \: + \: P}}}$

➤ Solution :-

First, we should find the simple interest.........

Simple Interest :-

$\tt \longrightarrow \dfrac{5000 \times 5 \times 5}{100}$

$\tt \longrightarrow \dfrac{ \cancel{5000} \times 5 \times 5}{ \cancel{100}} = \boxed{ \tt 50 \times 5 \times 5}$

$\tt \longrightarrow50 \times 25 = \boxed{ \tt 1250}$

Now,

Total amount :-

$\tt \longrightarrow 5000 + 1250$

$\tt \longrightarrow \sf Rs \tt \: \: 6250$

$\Huge\therefore$The total amount of the given sum is ₹ 6250.

━━━━━━━━━━━━━━━━━━━━━━━━━

$\dashrightarrow$Some related formulas :-

Simple Interest :- $\boxed{\tt\dfrac{P \times R \times T}{100}}$

Principle :- $\boxed{\tt\dfrac{SI \times 100}{R \times T}}$

Rate of interest :- $\boxed{\tt\dfrac{SI \times 100}{P \times T}}$

Time :- $\boxed{\tt\dfrac{SI \times 100}{P \times R}}$

━━━━━━━━━━━━━━━━━━━━━━━━━

More to know…………

• Simple interest is the extra amount given, when a person borrows money from a bank or any person.
• Principle is the amount given at the beginning from lender to borrower.
• Rate of interest is the extra amount to be given from borrower to lender. It is always written in percentage form.
• Time is given for the borrower to return back the money given by lender with interest. They should not cross the time.