Question

find the amount on sum rupees 4096 for 1 1/2years at 10% p.a. ​

Answer 1

➤ Given :-

Principle :- ₹4096

Rate of interest :- 10%

Time :- 1½ years

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➤ To Find :-

Total amount to be paid back at end of period.

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➤ Formula required :-

${\tt \large \dashrightarrow \orange{\boxed{\tt \gray{Simple \: Interest + Principle}}}}$

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★ How to do :-

Here, we are given with the principle amount, the rate of interest and the time taken to return the money back. We are asked to find out the total amount that should be returned back at end of the period. We can use the given formula for finding that. But, we are not given with the simple interest which is required to find the total amount. So, first we should find the simple interest by subtracting the total amount and the principle amount. The obtained answer will be the simple interest. Later, we can find the total amount by adding the simple interest and the principle amount. So, let's solve!!

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➤ Solution :-

Simple Interest :-

${\tt \leadsto \dfrac{4096 \times 10 \times 3}{100 \times 2}}$

${\tt \leadsto \dfrac{4096 \times \cancel{10} \times 3}{\cancel{100} \times 2} = \dfrac{4096 \times 1 \times 3}{10 \times 2}}$

${\tt \leadsto \dfrac{\cancel{4096} \times 1 \times 3}{10 \times \cancel{2}} = \dfrac{2048 \times 3}{10}}$

${\tt \leadsto \dfrac{2048 \times 3}{10} = \dfrac{6144}{10}}$

${\tt \leadsto \cancel \dfrac{6144}{10} = 614.4}$

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Now,

Total Amount :-

${\tt \leadsto 614.4 + 4096}$

${\tt \leadsto \boxed{\tt Rs \: \: 4710.4}}$

$\Huge\therefore$ The total amount to be returned back at end of the period is ₹4710.4.

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$\dashrightarrow$ Some related formulas :-

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

${\longrightarrow \boxed{\sf Principle = \dfrac{SI \times 100}{R \times T}}}$

${\longrightarrow \boxed{\sf Rate \: of \: Interest = \dfrac{SI \times 100}{P \times T}}}$

${\longrightarrow \boxed{\sf Time = \dfrac{SI \times 100}{P \times R}}}$