Question

in how much time will 10400 rupees amount to 11648 rupees at 6 percent per annum​

Answer 1

➤ Given :-

Principle :- ₹10400

Total amount :- ₹11648

Rate of interest :- 6%

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➤ To Find :-

Time taken for returning the amount back.

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➤ Formula required :-

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

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★ How to do :-

Here, we are given with principle, total amount and the rate of interest. We should find the time taken to return the money back. Ao, we are not provided with simple interest, so we should find the simple interest by subtracting the total amount and the principle. Then, we will get the simple interest. We'll be provided with all the value. So, we can start finding the time taken by using the given formula.

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➤ Solution :-

Simple Interest :-

${\tt \leadsto 11648 - 10400}$

${\tt \leadsto Rs \: \: 1248}$

Now,

Time :-

${\tt \leadsto \dfrac{1248 \times 100}{10400 \times 6}}$

${\tt \leadsto \dfrac{1248 \times \cancel{100}}{\cancel{10400} \times 6} = \dfrac{1248 \times 1}{104 \times 6}}$

${\tt \leadsto \dfrac{\cancel{1248} \times 1}{104 \times \cancel{6}} = \dfrac{208 \times 1}{104 \times 1}}$

${\tt \leadsto \cancel \dfrac{208}{104} = \boxed{\tt 2 \: \: years}}$

$\Huge\therefore$ The time taken to return the money back is 2 years.

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$\dashrightarrow$ Some related formulas :-

${\to \boxed{\sf Simple \: Interest = \dfrac{P \times R \times T}{100}}}$

${\to \boxed{\sf Principle = \dfrac{SI \times 100}{R \times T}}}$

${\to \boxed{\sf Rate \: of \: Interest = \dfrac{SI \times 100}{P \times T }}}$