Question

Harish borrowed 1500 from Subhash at 16% per annum for 3 1/2 years find the interest and the amount paid by subhash​

Answer 1

Step-by-step explanation:

Given:-

Harish borrowed 1500 from Subhash at 16% per annum for 3 1/2 years

To find:-

Find the interest and the amount paid to subhash

Solution:-

Money borrowed by Harish from Subhash

= Rs. 1500

Principle (P) = Rs. 1500

Rate of Interest (R) = 16%

Time (T) = 3 1/2 years

=>T = 7/2 years

We know that

Simple Interest (I) = PTR/100

=>I = 1500×(7/2)×16/100

=>I=(1500×7×16/(2×100)

=>I = 168000/200

=>I = 840

Simple Interest = Rs. 840

We know that

Amount = Principle + Interest

=>A = P + I

=>A = Rs. 1500 + Rs. 840

=>A = Rs. 2340

Amount = Rs. 2340

Answer:-

Interest paid by him = Rs. 840

Total amount paid by him after 3 1/2 years =

Rs. 2340

Used formulae:-

• Simple Interest = PTR/100

• A = P + I

Where,

P = Principle

T = Time

R = Rate of Interest

A = Amount

I = Interest