Question

Jaimin takes ₹. 10,000 at 12% p.a (as Rate of Interest) for 2 Years. How much Interest he has to Pay at the End of 2 Years?​

Answer 1

$\Large{\underline{\underline{\textsf{\maltese\: {\red{Given :-}}}}}}$

◉ Principal (P) = Rs 10000

◉ Rate (R) = 12% p.a. (per annum)

◉ Time (T) = 2 years

$\Large{\underline{\underline{\textsf{\maltese\: {\red{To Find :-}}}}}}$

◉ Interest (I) = ?

$\Large{\underline{\underline{\textsf{\maltese\: {\red{Concept Implemented :-}}}}}}$

◉ $\rm I = \dfrac{P * R* T}{100}$

◉ $\rm P = \dfrac{I*100}{R*T}$

◉ $\rm R = \dfrac{I*100}{P*T}$

◉ $\rm T = \dfrac{I*100}{P*R}$

$\Large{\underline{\underline{\textsf{\maltese\: {\red{Solution :-}}}}}}$

◉ $\rm I = \dfrac{P * R* T}{100}$

$\implies \rm I = \dfrac{Rs\,10000\;*\;12\;*\;2}{100}$

$\implies \rm I = Rs\,2,400$

∴ Jaimin has to  an Interest of Rs 2400 at the end of 2 years.

Answer 2

Question :-

• Jaimin takes ₹. 10,000 at 12% p.a (as Rate of Interest) for 2 Years. How much Interest he has to Pay at the End of 2 Years?

Given :-

• Principal = Rs, 10,000
• Rate = 12% p.a ( Per Annum )
• Time = 2 years

To Find :-

• How much Interest he has to Pay at the End of 2 Years?

Solution :-

$\quad {:} \longrightarrow \sf \boxed{\bf{Interest \: = \: \dfrac{Principal \: \times \: Rate \: \times \: Time}{100} }}$

$\quad {:} \longrightarrow \sf {\sf{Interest \: = \: \dfrac{10000 \: \times \: 12 \: \times \: 2}{100} }}$

$\quad {:} \longrightarrow \sf {\sf{Interest \: = \: \dfrac{100 \cancel{00} \: \times \: 12 \: \times \: 2}{1 \cancel{00}} }}$

$\quad {:} \longrightarrow \sf {\sf{Interest \: = \: 100 \: \times \: 12 \: \times \: 2 }}$

$\quad {:} \longrightarrow \sf {\bf{Interest \: = \:2400 }}$

━━━━━━━━━━━━━━━━━━━━━━━━━

So, Jaimin has to pay Rs, 2400 as interest at the end of 2 years.

━━━━━━━━━━━━━━━━━━━━━━━━━

More About Concept :-

Let us recall the concept of simple interest. we know that simple interest is calculated uniformly throughout the loan period on the original principal and is given by the following formula :

• Simple interest = Principal * Rate * Time /100
• SI = P * R * T / 100
• Amount = Principal + Simple Interest

━━━━━━━━━━━━━━━━━━━━━━━━━