Question

Find the interest paid by Yana , if she borrowed Rs. 8,000 for 5/2 years , given that the rate of interest is 10% p.a. compound annually

Answer 1

S. I.= (Principle×Rate×Time)÷100

Given,that
Principle = 8000
Rate = 10% per annum
Time = 5/2

S.I. = (8000 × 10 ×5) ÷ 10 × 2

= (400000) ÷ 10 × 2

= (400000) ÷ 20

= Rs. 20000

Answer 2

Given :

She borrowed Rs. 8,000 for 5/2 years , given that the rate of interest is 10% p.a. compound annually

To Find :

Find the interest paid by Yana

Solution:

Principal = 8000  

Time = $\frac{5}{2}$ years  

Rate of interest = 10% = 0.1  

Formula :

$Amount = P(1+r)^t\\Amount = 8000(1+0.1)^{\frac{5}{2}}\\Amount =10152.46$

Interest = Amount – Principal =10152.46-8000=2152.4

Hence the interest paid by Yana is Rs.2152.4