Question

Find the simple interest on:
(a) $ 2 LAKH for 5 months 10 DAYS at 1% per MONTH . Find the amount also.

Answer 1

Formula for S.I

$\boxed{\bf{S.I=\frac{P\times R\times T}{100}}}$

Here : P = Principal Amount .

R = Rate of interest .

T = Time .

Given :

Principal = $ 2 lakhs .

Time = 5 months 10 days .

Rate = 1 % per month .

1 month = 30 days .

30 days implies 1 month .

1 day implies 1/30 months .

10 days implies 1/3 month ,

5 month + 10 days

= 5 + 1/3 months

= ( 15 + 1 )/3 months

= 16/3 months

$\bf{S.I=\dfrac{2\times \frac{16}{3}\times 1}{100}}\\\\\implies \bf{S.I=\dfrac{16}{150}}\\\\\implies \bf{S.I=\dfrac{8}{75}}\\\\\implies \bf{S.I=0.1067}$ .

$\mathbb{INTEREST}$

The simple interest is 0.1067 lakhs .

Amount = S.I + P.

S.I was found to be 0.1067 lakhs .

P is given 2 lakhs .

⇒ Amount = 2 lakhs + 0.1067 lakhs

⇒ Amount = $ 2.1067 lakhs .

$\mathbb{AMOUNT}$

The amount is $ 0.1067 lakhs .

Answer 2

$\mathfrak{Answer:}$

Amount = $210666.67 & SI = $10666.67.

$\mathfrak{Step-by-Step\;Explanation:}$

$\underline{\underline{\bold{Given\;in\;the\;Question:}}}$

Principle = $ 2 lakh.

Rate = 1 % per month.

Time = 5 months and 10 days.

$\boxed{\bold{1\;Month=30\;Days.}}\\\\\\\tt{=5+\dfrac{10}{30}}\\\\\\\tt{=5+\dfrac{1}{3}}\\\\\\\tt{=\dfrac{16}{3}\;months.}\\\\\\\\\boxed{\bold{SI=\dfrac{Principle\times Rate\times Time}{100}}}\\\\\\\tt{=\dfrac{200000\times 1\times\dfrac{16}{3}}{100}}\\\\\\\tt{=\dfrac{200000\times 16}{300}}\\\\\\\tt{=\dfrac{32000}{3}}\\\\\\\tt{=\ \;10666.67.}$

$\boxed{\boxed{\bold{Simple\;Interest=\ \;10666.67.}}}\\\\\\\\\boxed{\bold{Amount=Principle+SI}}\\\\\\\tt{=\ \;200000+\ \;10666.67}\\\\\\\tt{=\ \;210666.67.}\\\\\\\\\boxed{\boxed{\bold{Amount=\ \;210666.67.}}}$