find the sum to be invested to earn a simple interest of RS.360 in 8 months at the rate of 15% per annum
Answers
Answered by
36
- Sum to be invested is Rs.3600 .
Step-by-step explanation:
To find:-
- Sum to be invested.
Solution:-
Given that,
S.I or simple interest is Rs 360
Time period is 8 months.
Rate of interest is 15%.
Conversion:-
Time = 8 months
= 8/12 = 4/6 = 2/3
Total time is 2/3 years.
- Sum to be invested means Principal or principal is denoted by P.
Simple interest = Principal × Rate × time
➝ 360 = P × 15 × 2/100 × 3
➝ 360 = P × 30/300
➝ 360 × 300 = P × 30
➝ 108000 = P × 30
➝ 108000/30 = P
➝ 3600 = P
Or, ➝ P = 3600.
Therefore,
Sum to be invested is Rs.3600 .
Answered by
103
Given :
- SI = RS.360
- Time = 8 months = 2/3
- Rate = 15% per annum
To Find :
- find the sum to be invested
Solution :
Concept :
Simple interest is a quick and easy method of calculating the interest charge on a loan.
- Use this simple interest calculator to find A, the Final Investment Value, using the simple interest formula: A = P(1 + rt)
- where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods.
Where r is in decimal form; r=R/100; r and t are in the same units of time.
S I = ( p × R × T ) / 100
Substitute all values :
➫ 360 = ( P × 15 × 2 ) / 100 × 3
➫ 360 = 30P / 300
➫ P = 360 × 300 / 30
➫ P = 360 × 10
➫ P = 3600 Rs
- Hence the principal amount. 3600 ₹
prince5132:
good.
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