Question

Rishav takes a loan of Rs 10000 from a bank for a period of 1 year. The rate of interest is 10% per annum. Find the interest and the amount he has to the pay at the end of a year.

Answer 1

Here:

The loan sum (P) = Rs. 10000

Rate of interest per year (R) = 10%

Time for which it is borrowed (T) = 1 year

Thus:

Simple interest for a year:

$\boxed{\sf{SI=\frac{P \times R \times T}{100}}}$

Now:

Plugging these values in the simple Interest formula,

We get:

$\sf{SI=\frac{P \times R \times T}{100}}$

$\implies$ $\sf{\frac{10000 \times 10 \times 1}{100}}$

$\implies$ $\sf{Rs.\:1000}$

Now:

Amount that Rishav has to pay to the bank at the end of the year:

$\implies$ $\sf{Principal + Interest}$

$\implies$ 10000 + 1000

$\implies$ Rs. 11,000

Final answer: Rs. 11,000

Answer 2

The loan sum (P) = Rs. 10000

Rate of interest per year (R) = 10%

Time for which it is borrowed (T) = 1 year

Si=p*r*t/100

Si=1000*10*1/100

Si=rs100

Now

A=si+p

A=100+1000

A=Rs 1100Rs

Hope you like my answer