Question

Mr.Sunil Singh borrowed Rs.1500 at the rate of 12% per annum S.I.What will be the amount after 2 years 73 days.

Answer 1

Given:-

•Principal is 1500 rupees at the rate of 12% per annum.

To Find:-

•What will be the amount after 2 years 73 days.

Solution:-

we have,

• Principal = 1500 rupees
• Rate = 12%
• Time = $\sf2\dfrac{73}{365}$days = $\sf2\dfrac{1}{5}$days = $\dfrac{11}{5}$days

Using Formula:

$\: \: \sf \: simple \: interest = \frac{p \times r \times t}{100}$

Now substitute the values,

$\: \: \sf \: simple \: interest = \frac{1500 \times 11 \times 12}{100 \times 5} = 396rupees$

Hence,Simple Interest is 396 rupees.

Now,

• S.I = 396 rupees
• Principal = 1500 rupees

Using Formula:

$\: \: \sf \: amount = principal + simple \: interest$

Now substitute the values,

$\: \: \sf \: amount = 1500 + 396 \\ \\ \: \: \sf \: amount = 1896rupees$

Hence,Amount is 1896 rupees.