Question

Find the simple interest on rs. 7850 at 7.5% per annum for 3years 4months. Also find the amount.

Answer 1

Answer:

Principal (P) = Rs.7850

Rate (R) = 7.5% per annum

Time (T) = 3 years 4 months = 3 whole 1/3 years = 10/3 years

Simple Interest (SI) = PRT/100

SI = 7850 * 7.5 * 10/3 * 1/100

SI = Rs.1962.50  

Amount = P + SI = Rs.(7850+1962.50) = Rs.9812.50

Answer 2

ANSWER:

GIVEN:

Principle amount= Rs. 7850

Rate= 7.5%

Time= 3years 4months

NEED TO FIND:

Simple interest=?

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$\huge{\underline{\underline{\red{SOLUTION-}}}}−$

• Let Principle amount = P
• Rate of interest = R
• Time period= R

We know;

$I= \dfrac{PTR}{100} \\ = > I= \dfrac{7850 \times 7.5 \times 10}{100×3} \\ = > I=1962.5$

$\large{\red{\boxed{\boxed{Simple_Interest=Rs.1962.5}}}}$

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$\underline{\boxed{\red{Knowledge\:Cell}}}$

• ▪What is simple interest?

In econommics Calculating SI is an method to determine the amount charged on a loan or given on deposits.

• ▪How is it determined?

It's determined by multiplying the daily interest rate with the principle amount and the no of days between any transaction or repayment of loan.