Find the simple interest of 2000 for 10 pa for two yrs and 6 months
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Interest is (P×R×T)÷100
(2000×2.5×10)÷100 = 500
Interest is 500
Amount is 2000+500 = 2500
(2000×2.5×10)÷100 = 500
Interest is 500
Amount is 2000+500 = 2500
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this is just example
Tim invested $ 1500 for at the rate of 6% p.a. for 7 years and 3 months. Find the amount he got back
Principal (P) = $ 2000,
Rate (R) = 6% p.a.
Time (T) = 7 years and 3 months.
[We know, when “T’ i.e., the time is given in months then it should be divided by 12 to convert into years].
= 7 3/12 years.
= 7 ¼ years.
= (7 × 4 + 1)/4 years.
= 29/4 years.
Simple Interest (SI) = (P × R × T)/100
Simple Interest (SI) = (2000 × 6 × 29)/(100 × 4)
= 348000/400
= 870
Therefore, Amount = Principal + Simple Interest
= 2000 + 870
Therefore, Amount Tim got back = $ 2870
I hope this will help you
if not then comment me
Tim invested $ 1500 for at the rate of 6% p.a. for 7 years and 3 months. Find the amount he got back
Principal (P) = $ 2000,
Rate (R) = 6% p.a.
Time (T) = 7 years and 3 months.
[We know, when “T’ i.e., the time is given in months then it should be divided by 12 to convert into years].
= 7 3/12 years.
= 7 ¼ years.
= (7 × 4 + 1)/4 years.
= 29/4 years.
Simple Interest (SI) = (P × R × T)/100
Simple Interest (SI) = (2000 × 6 × 29)/(100 × 4)
= 348000/400
= 870
Therefore, Amount = Principal + Simple Interest
= 2000 + 870
Therefore, Amount Tim got back = $ 2870
I hope this will help you
if not then comment me
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