Question

Find the simple interest and amount in which principle = Rs 14, 320,rate=0.5 % per month and time =1 year and 3 month

Answer 1

Answer:

Step-by-step explanation:

Principle(P)=Rs.14320

Rate of interest (R)=0.5% per month

Time period (T)=1 year 3 months

Since R is per month so,we need to convert T into months.

Now,1 year=12 months

And T=1year 3 months

=>T=(12+3) months

=>T=15 months

Simple interest (SI)=P×R×T÷100

SI=14320×0.5×15÷100

So,SI=Rs.1074

Amount=P+SI

Amount=Rs.(14320+1074)

So,Amount=Rs.15394

Answer 2

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Here is your answer
P = RS 14320
R = 0.5% per month
= 0.5 × 12
=6% p.a

T = 1 year 3 month
= 1+ 3/12 years
= 5/4
= 1.25 years

As we know that
SI = PRT/100
$= \frac{14320 \times 6 \times 1.25}{100} \\ \\ = 1074$

Simple interest = RS 1074

Amount = P + SI
= 14320 + 1074
= RS 15394


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