Question

Mr.Sunil Singh borrowed Rs.1500 at the rate of 12% per annum S.I.What will be the amount after 2 years73 days.

Answer 1

Given:-

•Principal borrrowed by Mr.Sunil Singh = 1500 rupees.

•Rate of interest = 12%

• Time = 2 years73days

To Find:-

•Amount = ?

Solution:-

Here,

• P = 1500 rupees
• R = 12%

$\: \: \sf \: t = 2 \frac{73}{365} = 2 \frac{1}{5} = \frac{11}{5} years$

As we know,

$\: \: \sf \: simple \: interest = \frac{principal \times \: rate \times time}{100}$

Now substitute the values

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

As we know,

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

Now substitute the values

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

Hence,amount is 1896 rupees.

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Answer 2

Given:-

• Principal on a sum of money = 1500 rupees
• Rate of interest = 12%
• Time = 2 years 73 days

To Find:-

• Simple Interest = ?
• Amount = ?

Solution:-

We are given that principal on a sum of money is 1500 rupees and rate of interest is 12% and time is 2 years 73 days and now we are said to find Simple interest and amount.

❍First of all if we have to find amount then firstly we will find simple interest and as we know the formulae of Simple interest is equal to principal multiple rate multiple time upon 100 and then getting the value of simple interest after that we will find the amount and as we know the formulae of amount is equal to principal addition to simple interest and after that we will get the value.So let's find!

Given,

• P = 1500 rupees
• T = 2 years 73 days
• R = 12%

$\: \sf \red \implies time = 2 \frac{73}{365} = 2 \frac{1}{5} = \frac{11}{5} years$

As we know,

$\:\:\:\:$$\large\sf\boxed{Simple Interest = {\dfrac{PRT}{100}}}$

$\: \: \: \\ \: \:$

Now substitute the given values

$\: \:$

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

Now,

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

$\: \:$

Now substitute the given values

$\: \:$

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

$\therefore$Hence, Amount is 1896 rupees.

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