Question

If 9600 is invested for 2 year 4 month at 7.5%perannum simple interest find the interest and amount

Answer 1

interest = 20,160rs

Amount = 29,760rs

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Answer 2

Principal (P)=Rs9600

Time(T)=2years 4months

=2+4/12

=2+1/3

=(6+1)/3

=7/3 years

Rate of interest (R) = 7.5%

Let simple interest = I

I = (PTR)/100

= (9600×7×7.5)/(100×3)

= Rs1680

Therefore,

Amount (A)=P+I

= Rs9600+Rs1680

= Rs11280

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