Question

Kiran borrowed Rs 3400 at the rate of 8% p.a. for 225 days. Find the interest and amount she paid.

Answer 1

Answer:

$\frak{Given}\begin{cases}\textsf{Principal = 3400}\\\textsf{Rate = 8\% p.a.}\\\sf{Time = 225\:Days = \frac{225}{360}\:yr}\end{cases}$

$\underline{\bigstar\:\textsf{Simple Interest :}}$

$:\implies\tt SI = \dfrac{Principal \times Rate \times Time}{100}\\\\\\:\implies\tt SI = \dfrac{3400 \times 8 \times 225}{100 \times 360}\\\\\\:\implies\tt SI = \dfrac{34 \times 8 \times 225}{360}\\\\\\:\implies\tt SI = \dfrac{61200}{360} \\\\\\:\implies\underline{\boxed{\tt SI =Rs. \:170}}$

$\rule{170}{2}$

$\underline{\bigstar\:\textsf{Amount :}}$

$\dashrightarrow\tt\:\: Amount= Principal+ SI\\\\\\\dashrightarrow\tt\:\:Amount=Rs.\:3400+Rs.\:170\\\\\\\dashrightarrow\:\:\underline{\boxed{\tt Amount = Rs. 3570}}$

Answer 2

Given:

• Principal,P = 3400
• Rate = 8% p.a
• Time = 225 days = 225/360 years

To find out:

Find the interest and amount she paid.

Formula used:

$S.I = \frac{ P \times R \times T}{100} \: \: \: and \: \: \: A = P + S.I$

Solution:

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

$\implies \: \frac{3400 \times 8 \times 225}{100 \times 360}$

$\implies \: \frac{27200 \times 225}{36000}$

$\implies \: \frac {6120000}{ 36000}$

S.I = 170

Now,

$A = P + S.I$

A= 3400 + 170

A= 3570

$\red{Knowledge \: Enhancer }$

• Principal (P): The money borrowed or lent.

• Time (T): The time period for which the money is borrowed.

• Rate(R): The interest given by the borrower to the lender every year is called rate.

• Simple interest (S.I): The extra money given by the borrower to the lender is called simple interest.

• Amount (A): The total money given by the borrower to the lender is called amount.