Question

In what time will ₹ 7500 amount to ₹ 8625. if simple interest is reckoned at 7½ % per annum?​

Answer 1

Answer:

2 Years

Step-by-step explanation:

Given that

Amount= Rs 8625

Principle (p) = Rs 7500

Rate (r) = 7 1/2%pa = 15/2 %

Simple Interest(si) = Amount – Principle

si = Rs 8625- Rs 7500

si = Rs 1125

We know that the formula for simple interest

si = (p × r × t)/100

Substitute the given values in the above equation we get,

1125 = (7500 × t × 15/2)/ 100

The simple interest equation becomes

1125 = (7500 × t × 15)/200

225000 = 112500 × t

t = 2 years

Hence the time required to pay ₹7500 amount to ₹8625, if interest is reckoned at 7 1/2<%pa is 2 years.

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Answer 2

Answer:

SI = Amount - Principal

= ₹(8625 - 7500)

= ₹1125

S.I.= $\frac{P×R×T}{100}$

1125 = $\frac{7500×15×T}{2×100}$

T = $\frac{1125 × 200}{7500 × 15}$

T = 2years