Question

Find the simple interest on Rs. 68,000 at 16(2/3)% per annum for a period of 9 months?

Answer 1

Given:

$\implies$ P = Rs. 68000

$\implies$ R = $\sf{\frac{50}{3}}$ per annum

$\implies$ T = $\sf{\frac{9}{12}}$ years = $\sf{\frac{3}{4}}$ years

Note: The time has been converted into years as the rate is per annum.

Now:

Using the formula for the simple interest,

We have:

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

Therefore:

Simple interest:

$\implies$ $\sf{\frac{P \times R \times T}{100}}$

$\implies$ $\sf{ \frac{6800 \times ( \frac{50}{3} ) \times (\frac{3}{4}) }{( \frac{1}{100}) }}$

$\implies$ $\sf{Rs.\:8500}$

Final answer: Rs. 8500

Answer 2

SOLUTION :

Given :

Principal (P) = Rs 68000

Rate of Interest (R)  = 16(2/3)% = 50/3 %

Time (T) = 9 months = 9/12 = 3/4 year [as there are 12 months in a year]

To be found :

The Simple Interest (S.I)

As we know that,

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

So,

$\bf S.I = \frac{680 \cancel{00} \times \frac{50}{3} \times \frac{3}{4}}{1\cancel{00}}$

$\bf S.I = 8500$

Hence,

The Simple Interest (S.I) is Rs 8500