Rohit brorrowed rs from his friend and agreed to pay him interest at the rate of 15 % par year . Find (1)the interest to be paid by rohit in 2 years.(2 ) the amount rohit must pay at the end of 2nd year , in order to clear his debt. Meaning to hindi
Answers
brorrowed rs from his friend and agreed to pay him interest at the rate of 15 % par year . Find (1)the interest to be paid by rohit in 2 years.(2 ) the amount rohit must pay at the end of 2nd year
Answer:
Simple Interest
Interest is the extra money paid by institutions like banks or post offices on money deposited (kept) with them. Interest is also paid by people when they borrow money.
With Simple interest, the interest is calculated on the same amount of money in each time period, and, therefore, the interest earned in each time period is the same. i.e., If the interest on a sum borrowed for certain period is reckoned uniformly, then it is called simple interest.
Let the principal = P, Rate = R% per annum (p.a) and Time = T years. Then ,
«math xmlns=¨http://www.w3.org/1998/Math/MathML¨»«mo»§nbsp;«/mo»«mo»§nbsp;«/mo»«mi mathvariant=¨normal¨»S«/mi»«mo».«/mo»«mi mathvariant=¨normal¨»I«/mi»«mo»§nbsp;«/mo»«mo»=«/mo»«mo»§nbsp;«/mo»«mfrac»«mrow»«mi mathvariant=¨normal¨»P«/mi»«mo»*«/mo»«mi mathvariant=¨normal¨»R«/mi»«mo»*«/mo»«mi mathvariant=¨normal¨»T«/mi»«/mrow»«mn»100«/mn»«/mfrac»«/math»
Example - 1
A sum of Rs 10,000 is borrowed at a rate of interest 15% per annum for 2 years. Find the simple interest on this sum and the amount to be paid at the end of 2 years.
Solution :
On Rs 100, interest charged for 1 year is Rs 15.
So, on Rs 10,000, interest charged = «math xmlns=¨http://www.w3.org/1998/Math/MathML¨»«mfrac»«mn»15«/mn»«mn»100«/mn»«/mfrac»«mo»§#215;«/mo»«mn»10000«/mn»«mo»=«/mo»«mi»R«/mi»«mi»s«/mi»«mo»§nbsp;«/mo»«mn»1500«/mn»«/math»
Interest for 2 years = «math xmlns=¨http://www.w3.org/1998/Math/MathML¨»«mi»R«/mi»«mi»s«/mi»«mo»§nbsp;«/mo»«mn»1500«/mn»«mo»§#215;«/mo»«mn»2«/mn»«mo»=«/mo»«mi»R«/mi»«mi»s«/mi»«mo»§nbsp;«/mo»«mn»3000«/mn»«/math»
Amount to be paid at the end of 2 years = Principal + Interest