Question

find the unknown quantity principal=?rate=3.5percent time=2years simple interest=? and amount=₹535

Answer 1

Given

Principal Amount= P = ?

Rate of Interest Per annum= R= 3.5%

Time = T = 2 years

Amount = 535

We know that

Amount= P(1+TR)

535=P(1 + 2×3.5/100)

535=P(1 + 0.07)

535 =P(1.07)

535/1.008 = P

500= P is the Principal Amount

Simple Interest= Final amount - Principal Amount

= 535 - 500 = 35

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Answer 2

$\blue{\bold{\underline{\underline{Answer:}}}}$

$\green{\therefore{\text{Principal=7642.85\:rupees}}}$

$\orange{\bold{\underline{\underline{Step-by-step\:explanation:}}}}$

$\green{ \underline \bold{Given : }} \\ : \implies \text{Time (t)= 2\:years} \\ \\ : \implies \text{Simple\:interest(S.I) = 535\:rupees} \\ \\ : \implies \text{Rate(r) = 3.5\%} \\ \\ \red{ \underline \bold{To \: Find: }} \\ : \implies \text{Principal(p) = ?}$

• According to given question :

$\bold{As \: we \: know \: that } \\ \circ \: \text{Simple \: interest} = \frac{ \text{Principal }\times \text{ Rate} \times \text{Time}}{100} \\ \\ \bold{Putting \: given \: values} \\ : \implies S.I = \frac{p \times r \times t}{100} \\ \\ : \implies 535 = \frac{p \times 3.5\times2}{100} \\ \\ : \implies p= \frac{535 \times100}{ 7} \\ \\ \green{ : \implies \text{p= 7642.85\: rupees}} \\ \\ \green{ \therefore \text{Simple\:interest =7642.85\: rupees}} \\ \\ \bold{Basic \: formula\:related\:to\:C.I} \\ \circ \: A = p(1 + \frac{r}{100} )^{t}$