Question

Principal $12, 500, interest rate 5%, time 240 days (use ordinary interest) se the us. Rule to solve for total interest cost. (use 360 days e year. Do not round intermedi wer to the nearest cent.)

Answer 1

AnswEr :

$\bullet\:\sf{Principal = Rs. \:12500} \\\\\bullet\:\sf{Rate = 5\% \:p.a.} \\\\\bullet\:\sf{Time = 240 \:days = \dfrac{240}{360} = \dfrac{2}{3}\:yrs}$

$\rule{170}{1}$

$\underline{\bigstar\:\textsf{Let's Head to the Question Now :}}$

$:\implies\tt Simple\: Interest=\dfrac{Principal \times Rate \times Time}{100}\\\\\\:\implies\tt Simple\:Interest=\dfrac{12500 \times 5 \times 2}{100 \times 3} \\ \\ \\:\implies\tt Simple\:Interest=\dfrac{125 \times 10}{3}\\\\\\:\implies\tt Simple\:Interest=\dfrac{1250}{3} \\ \\ \\:\implies\boxed{\blue{\tt Simple\:Interest=Rs. \:416.67}}$

⠀

$\therefore\:\underline{\textsf{Simple Interest on the sum will be \textbf{Rs. 416.67}}}$

Answer 2

$\bf{\Huge{\boxed{\underline{\tt{\red{ANSWER\::}}}}}}$

$\sf{\boxed{\sf{\red{S.I.\:=\:Rs.416.66}}}}}$

$\bf{Given}\begin{cases}\sf{Principal,[P]\:=\:Rs.12500}\\ \sf{Rate,[R]\:=\:5\%}\\ \sf{Time\:[T]\:=\:240\:Days\:(Ordinary\:Interest)}\end{cases}}$

$\bf{\Large{\underline{\bf{To\:Find\::}}}}$

The total Interest.

$\bf{\Large{\underline{\tt{\pink{Explanation\::}}}}}$

$\blacksquare\:$ According to the question :

$\leadsto\sf{Time\:=\:\dfrac{24\cancel{0}}{36\cancel{0}} \:years}$

$\leadsto\sf{Time\:=\:\cancel{\dfrac{24}{36}} \:years}$

$\leadsto\sf{\purple{Time\:=\:\dfrac{2}{3}\:years}}$

$\bf{\Large{\boxed{\rm{Formula\:of\:the\:Simple\:Interest\:(S.I.)}}}}$

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

$\implies\sf{S.I.\:=\:\dfrac{12500*5*\dfrac{2}{3} }{100} }$

$\implies\sf{S.I.\:=\:\dfrac{125\cancel{00}*5*2}{\cancel{100}*3} }$

$\implies\sf{S.I.\:=\:\dfrac{125*5*2}{3} }$

$\implies\sf{S.I.\:=\:\dfrac{1250}{3} }$

$\implies\sf{S.I.\:=\:\cancel{\dfrac{1250}{3}} }$

$\implies\sf{\purple{S.I.\:=\:Rs.416.66}}$

Thus,

The total Interest cost is Rs.416.66.