Question

In what time will Rs 6000 amount to Rs 6360 at 8% per annum simple interest?
​

Answer 1

In 16 months Rs. 6000 amount will become Rs. 6360 at 8% per annum simple interest

Given

Total Amount = 6360 Rs

Principle Amount = 6000 Rs

Rate of interest = 8%

To find

Time taking to become 6000 to 6360 at 8% per annum simple interest

Solution

The Total Amount is given as Rs.6360

Principle Amount = Rs. 6360

Rate of interest = 8%

The Simple Interest can be calculated using the equation, I = P×N×R

Here Simple Interest is not given and it can be calculated by, Total Amount - Principle Amount

which is 6360-6000 = 360 Rs

Therefore I = 360 Rs

Substituting the values, 360 = 6000 ×N ×8 /100

which is equal to 360 = 60 ×N×8

Therefore 360 = 480N

N= 480/360 =4/3 years = 1.33 years

I year = 12 months

Therefore 4/3 years is approximately 16 months

Hence the time taken to change Rs.6000 to Rs.6360 at 8% annum simple interest is approximately 16 months

Answer 2

Answer:

The required time will be 9 months.

Step-by-step explanation:

In context to the question asked,

We have to find time,

It is given that,

Principal ( P ) = Rs 6000,

Amount ( A ) = Rs 6360,

Rate of interest ( R ) = 8%  

For solving first, we need to find the simple interest ( S.I )

So, the formula to be used:

S.I = A - P

    = 6360 - 6000

S.I = Rs. 360

Now, for calculating time

$T = \frac{S.I \times 100}{P \times R } years$

Substitute the given values in the above formula, we get

$T = \frac{360 \times 100}{6000 \times 8 } years$

Multiplying the terms in the numerator as well as the denominator,

$T = \frac{36000}{48000 } years$

Dividing 36000 by 48000, we get

$T = \frac{6}{8} years$

In 1 year there are 12 months,

Therefore,

$T = \frac{6}{8}\times 12$

Expressing $\frac{6}{8}$ and 12 as a single fraction,

$T = \frac{6\times 12}{8}$

Multiplying 6 and 12, we get

$T = \frac{72}{8}$

Divide 72 by 8, we get

$T = 9$ months

Hence, the required time is 9 months.