Question

Find the simple interest on rupees 2,276 for 2 years and 6 months at 12.5% per annum. Also find the amount.​

Answer 1

Given:

Rupees 2,276 for 2 years and 6 months at 12.5% per annum

To find:

(1). Simple Interest

(2). Amount

Solution:

The sum of money, P = Rs. 2276

The rate of interest, R = 12.5%

Time, T = 2 years 6 months = $2\frac{6}{12} = 2\frac{1}{2} = \frac{5}{2} \:years$

(1). Finding the simple interest:

We know the formula of simple interest is as follows:

$\boxed{\bold{Simple \:Interest = \frac{PRT}{100} }}$

Now, by substituting the given values, we get

$Simple\:Interest = \frac{2276\:\times \:12.5\:\times\: \frac{5}{2} }{100} =\frac{2276\:\times \:125\:\times\: 5}{1000\:\times \:2}= \frac{1138\:\times\: 5}{8}= Rs.\:711.25$

(2). Finding the amount:

Also, we have another formula as:

$\boxed{\bold{Amount = Principal + Simple\:Interest }}$

∴ Amount = Rs. 2276 + Rs. 711.25 = Rs. 2987.25

Thus,

$\boxed{\bold{The \:simple\:interest\: is\rightarrow\underline{Rs.\:711.25}}}$

and

$\boxed{\bold{The \:amount\: is\: \rightarrow\underline{Rs. 2987.25}}}$

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