Question

Find the time after which Rs 500 will earn Simple Interest of Rs. 82.50 at 11 % per annum .


I want step by step solution ..

Answer 1

Given :-

Principle (P) = Rs. 500

Simple Interest (S.I) = Rs. 82.50

Rate Of Interest = 11% per annum

Time (T) = ?

Formula to be used:-

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

Solution :-

Substituting the values in the formula,

$=>Rs.\:82.50=\frac{Rs.\:500 \times 11 \times T}{100} \\\\=> Rs.\:82.50\times 100 = Rs.\:500 \times 11 \times T\\\\=>\frac{Rs.\:82.50\times 100}{Rs.\:500 \times 11} = T\\\\=>1.5 = T$

Answer:-

The time after which Rs 500 will earn Simple Interest of Rs. 82.50 at 11 % per annum is 1.5 years.

More to Know :-

$\star$ Basic Formula of Compound Interest -

=> A = P$(1+\frac{r}{100})^{t}$

where,

A = amount

P = Principal

R = Rate Of Interest

T = Time

Answer 2

Given :-

• Principle (P) = Rs. 500
• Simple Interest (S.I) = Rs. 82.50
• Rate Of Interest = 11% per annum
• Time (T) = ?

Formula to be used:-

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

Solution :-

Substituting the values in the formula,

$=>Rs.\:82.50=\frac{Rs.\:500 \times 11 \times T}{100} \\\\=> Rs.\:82.50\times 100 = Rs.\:500 \times 11 \times T\\\\=>\frac{Rs.\:82.50\times 100}{Rs.\:500 \times 11} = T\\\\=>1.5 = T$

The time after which Rs 500 will earn Simple Interest of Rs. 82.50 at 11 % per annum is 1.5 years.