Question

Find the time when Rs. 1250 amounts to Rs 1950 at 14 % per annum.

Answer 1

➤ Given :-

Principle :- ₹ 1250

Total amount :- ₹ 1950

Rate of interest :- 14%

➤ To Find :-

Time taken for the given sum

➤ Formula required :-

${\tt \large \dashrightarrow \orange{\boxed{\tt \gray{\dfrac{SI \times 100}{P \times R}}}}}$

➤ Solution :-

First, we should find the simple interest by subtracting the total amount and the principle

Simple Interest :-

${\tt \longrightarrow 1950 - 1250}$

${\tt \longrightarrow Rs \: \: 1700}$

Now,

Time :-

${\tt \longrightarrow \dfrac{1700 \times 100}{1250 \times 14}}$

${\tt \longrightarrow \dfrac{1700 \times \cancel{100}}{\cancel{1250} \times 14} = \dfrac{1700 \times 4}{50 \times 14}}$

${\tt \longrightarrow \dfrac{\cancel{1700} \times 4}{\cancel{50} \times 14} = \dfrac{34 \times 4}{1 \times 14}}$

${\tt \longrightarrow \dfrac{136}{14} = \boxed{ \tt 9.7 \: \: years}}$

$\Huge\therefore$ The time taken in the following sum is 9.7 years.

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$\dashrightarrow$ Some related formulas :-

Simple Interest :- ${\boxed{\tt\dfrac{P \times R \times T}{100}}}$

Principle :- ${\boxed{\tt\dfrac{SI \times 100}{R \times T}}}$

Rate of interest :- ${\boxed{\tt\dfrac{SI \times 100}{P \times T}}}$

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More to know :-

• Simple Interest is the extra amount to be given when a person borrows some money from a person or a bank. The person who gives money is called lender. The person who takes money is called borrower.
• Principal is the amount given at first from lender to borrower.
• Rate of interest is the extra amount to be given from borrower to lender. It is always written in percentage format.
• Time is given for the borrower to return back the given money with the given interest.