Question

Keya took a loan of ₹ 4,00,000 at the rate of 9.5% p.a. simple interest for a period of 3½ years. Find the amount payable at the end of the term.​

Answer 1

Answer:

1330

Step-by-step explanation:

first calculate the s= p*r*t÷100

400000×9.5×42(months)÷100×12( in order to convert it into years)

4000×95×42÷12×10( FOR 9.5)

AND THEN AFTER CALCULATION

THE SI IS 1330

the amount is p+si

400000+1330=401330

Answer 2

The amount payable at the end of the term is ₹ 5,33,000.

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Let's understand a few concepts:

The simple Interest can be found by using the following formula:

$\boxed{\bold{Simple\:Interest = \frac{Principal\times Time \times Rate}{100} }}$

where

Principal = sum of money deposited or taken as a loan

Time = no. of years

Rate = rate of interest

The final amount received at the end of the year can be found by the following formula:

$\boxed{\bold{Amount = Principal + Simple\:Interest}}$

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Let's solve the given problem:

The amount of loan taken by Keya, P = ₹ 4,00,000

The rate of interest, R = 9.5% p.a.

The no. of years, T = 3½ years = $\frac{7}{2}$ years

Therefore,

The simple interest is,

= $\frac{400000 \times 9.5 \times \frac{7}{2} }{100}$

= $4000 \times 9.5 \times \frac{7}{2}$

= ₹ $133000$

Now,

The final amount payable at the end of the term is,

= ₹ 4,00,000 + ₹ 133000

= ₹ 5,33,000

Thus, the amount payable at the end of the term is → ₹ 5,33,000.

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Learn more about simple interest here:

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