Question

Rahaman borrowed Rs. 3500 from a cooperative bank which charged him 8% interest. He returned the money with interest after 2 years. How much amount in all did he return to the Bank?​

Answer 1

Answer:

solve this formula by returning as quadratic equation or you can solve this by using formula of A= p+2[1+R/100]^N

Answer 2

GIVEN :-

• Amount borrowed by Rahman = Rs. 3500
• Rate of interest = 8%
• Time after which he returned the money = 2 years

CONCEPT :-

Here we will use the concept of Simple Interest to find out the amount paid by Rahman after 2 years to the bank at the rate of interest of 8%. The formula for the simple interest is :

$\qquad \bull \: \: \pink{ \large\underline{ \underline{ \boxed{ \sf S.I. = \frac{P \times R \times T}{100} }}}}$

Now we can simply put the given values in this formula to obtain our required answer.

SOLUTION :-

$\sf\hookrightarrow S.I. = \dfrac{3500 \times 8 \times 2}{100} \\ \\ \sf\hookrightarrow S.I. = \frac{35 \cancel{00} \times 8 \times 2}{ \cancel{100} } \\ \\ \sf\hookrightarrow S.I. = 35 \times 8 \times 2 \: \: \: \: \: \\ \\ \sf\hookrightarrow S.I. = 70 \times 8 \: \: \: \: \: \: \: \: \: \: \: \: \: \\ \\ \sf\hookrightarrow S.I. = 560 \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \: \:$

Therefore, the simple interest to be paid is Rs. 560. Now we will calculate the amount, we know that,

$\bull \: \: \green{\underline{ \underline{ \boxed{ \sf Amount = Principal + Simple \: interest}}} }$

Therefore,

$\sf \hookrightarrow Amount = 3500 + 560 \\ \\ \sf \hookrightarrow Amount =4060 \: \: \: \: \: \: \: \: \: \: \: \:$

Therefore, the amount to be paid by Rahman after 2 years to the bank is Rs. 4060