Question

Prabhav has 4800 in his account and the interest rate is 5%. How many years later will he earn an interest of ₹ 480?​

Answer 1

Solution!!

The concept of simple interest has to be used here. The principal, rate of interest and simple interest is given in the question. We have to find the time.

Principal = Rs 4800

Interest = Rs 480

Rate of interest = 5%

Time = ?

We will use the interest formula to find the time.

SI = (P × R × T)/100

480 = (4800 × 5 × T)/100

480 = 48 × 5 × T

480 = 240 × T

T = 480 ÷ 240

T = 2

Hence, the time is 2 years.

The questioner may ask you to find the amount also. So, here's how you can find it.

Amount = Principal + Interest

Abbreviations used:-

P → Principal

R → Rate of interest

T → Time

SI → Simple interest

Answer 2

Answer:

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline\pink{Given:}}}}}}\end{gathered}$

• » Prabhav has 4800 in his account and the interest rate is 5%.

$\begin{gathered}\end{gathered}$

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline{\pink{To Find:}}}}}}}\end{gathered}$

• » How many years later will he earn an interest of ₹ 480?

$\begin{gathered}\end{gathered}$

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline\pink{Formula Used:}}}}}}\end{gathered}$

$\dag{\underline{\boxed{\sf{S.I = \dfrac{P \times R \times T}{100}}}}}$

Where

• $\dashrightarrow \sf{S.I = Simple \: Interest }$
• $\dashrightarrow {\sf{P = Principle}}$
• $\dashrightarrow{\sf{R = Rate}}$
• $\dashrightarrow{\sf{T = Time}}$

$\begin{gathered}\end{gathered}$

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline\pink{Solution:}}}}}}\end{gathered}$

$\bigstar \: {\underline{\pmb{\frak{\red{Here}}}}}$

• $\dashrightarrow \sf{Interest = Rs.480}$
• $\dashrightarrow \sf{Principle = Rs.4800}$
• $\dashrightarrow \sf{Rate = 5 \%}$

$\begin{gathered}\end{gathered}$

$\bigstar \: {\underline{\pmb{\frak{\red{According \: to \: the \: question }}}}}$

$\quad{: \implies{\sf{S.I = \bf{\dfrac{P \times R \times T}{100}}}}}$

• Substituting the values

$\quad{: \implies{\sf{480= \bf{\dfrac{4800 \times 5 \times T}{100}}}}}$

$\quad{: \implies{\sf{480= \bf{\dfrac{24000\times T}{100}}}}}$

$\quad{: \implies{\sf{480 \times 100= \bf{24000\times T}}}}$

$\quad{: \implies{\sf{48000= \bf{24000\times T}}}}$

$\quad{: \implies{\sf{\dfrac{48000}{24000} = \bf{T}}}}$

$\quad{:\implies{\sf{\cancel{\dfrac{48000}{24000}} = \bf{T}}}}$

$\quad{: \implies{\sf{2 = \bf{T}}}}$

$\dag{\underline{\boxed{\sf{Time = 2 \: years}}}}$

• ➤ Henceforth,The Time is 2 years.

$\begin{gathered}\end{gathered}$

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline\pink{Learn More :}}}}}}\end{gathered}$

$\begin{gathered}\begin{gathered}\begin{gathered}\begin{gathered} \dag \: \underline{\bf{More \: Useful \: Formula}}\\ {\boxed{\begin{array}{cc}\dashrightarrow {\sf{Amount = Principle + Interest}} \\ \\ \dashrightarrow \sf{ P=Amount - Interest }\\ \\ \dashrightarrow \sf{ S.I = \dfrac{P \times R \times T}{100}} \\ \\ \dashrightarrow \sf{P = \dfrac{Interest \times 100 }{Time \times Rate}} \\ \\ \dashrightarrow \sf{P = \dfrac{Amount\times 100 }{100 + (Time \times Rate)}} \\ \end{array}}}\end{gathered}\end{gathered}\end{gathered}\end{gathered}$