Question

Salma borrowed a sum of rupees 8000 for 3 years at 5% annual rate of interest from a finance company how much interest will has to be paid by him after 3 years if interest is calculated by yearly find the amount has to pay after 3 years
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Answer 1

${\huge{\bf{\red{\underline{Solution:}}}}}$

${\bf{\blue{\underline{Given:}}}}$

${\implies{\sf{\green{Principle=Rs.\:8000}}}}$

${\implies{\sf{\green{Rate=5\:/%}}}}$

${\implies{\sf{\green{Time=3\:years}}}}$

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

${\implies{\sf{\green{The\:amount\:has\:to\:pay\:after\:3\:years}}}}$

${\bf{\blue{\underline{Formula\:used:}}}}$

${\implies{\sf{\boxed{\boxed{\green{SI=\dfrac{P\times R\times T}{100}}}}}}}$

${\sf{\underline{\green{Now,\:we\:know\:that,}}}}$

${\implies{\sf{\green{Interest\:of\:1st\:year=\dfrac{8000\times 5\times 1}{100}}}}}$

${\implies{\sf{\green{Interest\:of\:1st\:year=Rs.\:400}}}}$

${\sf{\underline{\green{Amount\:at\:the\:end\:of\:1st\:year=Principle\:for\:2nd\:year}}}}$

${\implies{\sf{\green{Principle\:for\:2nd\:year=8000+400}}}}$

${\implies{\sf{\green{Principle\:for\:2nd\:year=Rs.\:8400}}}}$

${\implies{\sf{\green{Interest\:of\:2nd\:year=\dfrac{8400\times 5\times 1}{100}}}}}$

${\implies{\sf{\green{Interest\:of\:1st\:year=Rs.\:420}}}}$

${\sf{\underline{\green{Amount\:at\:the\:end\:of\:2nd\:year=Principle\:for\:3rd\:year}}}}$

${\implies{\sf{\green{Principle\: for\:3rd\year=8400+420}}}}$

${\implies{\sf{\green{Principle\:for\:3rd\:year=Rs.\: 8820}}}}$

${\implies{\sf{\green{Interest\:of\:3rd\:year=\dfrac{8820\times 5\times 1}{100}}}}}$

${\implies{\sf{\green{Interest\:of\:1st\:year=Rs.\:441}}}}$

${\sf{\orange{Now,\:Total\: Interest=400+420+441}}}$

${\sf{\orange{Total\: Interest=Rs.\:1261}}}$

${\sf{\underline{\blue{Now,\:we\:know\:that,}}}}$

${\implies{\sf{\green{Amount\: returnable\:after\:3\:years=Principle+CI}}}}$

${\implies{\sf{\green{Amount\: returnable\:after\:3\:years=8000+1261}}}}$

${\implies{\sf{\green{Amount\: returnable\:after\:3\:years=Rs.\:9261}}}}$

Answer 2

${\rm{\red{\underline{Given:}}}}$

${\longrightarrow{\rm{Principle=Rs.\:8000}}}$

${\longrightarrow{\rm{Rate=5 \ percent}}}$

${\longrightarrow{\rm{Time=3\:years}}}$

${\rm{\pink{\underline{To:Find:}}}}$

${\rm{The\:amount\:has\:to\:pay\:after\:3\:years}}$

${\rm{\red{\underline{Solution:}}}}$

${\rm{We\:know,}}$

${\star{\rm{\boxed{\boxed{\orange{SI=\dfrac{P\times R\times T}{100}}}}}}}$

${\longrightarrow{\rm{Interest\:of\:1st\:year=\dfrac{8000\times 5\times 1}{100}}}}$

${\longrightarrow{\rm{Interest\:of\:1st\:year=Rs.\:400}}}$

${\rm{Amount\:at\:the\:end\:of\:1st\:year=Principle\:for\:2nd\:year}}$

${\implies{\rm{Principle\:for\:2nd\:year=8000+400}}}$

${\longrightarrow{\rm{Principle\:for\:2nd\:year=Rs.\:8400}}}$

${\longrightarrow{\rm{Interest\:of\:2nd\:year=\dfrac{8400\times 5\times 1}{100}}}}$

${\longrightarrow{\rm{Interest\:of\:1st\:year=Rs.\:420}}}$

${\rm{Amount\:at\:the\:end\:of\:2nd\:year=Principle\:for\:3rd\:year}}$

${\longrightarrow{\rm{Principle\: for\:3rd\:year=8400+420}}}$

${\longrightarrow{\rm{Principle\:for\:3rd\:year=Rs.\: 8820}}}$

${\longrightarrow{\rm{Interest\:of\:3rd\:year=\dfrac{8820\times 5\times 1}{100}}}}$

${\longrightarrow{\rm{Interest\:of\:1st\:year=Rs.\:441}}}$

${\rm{Total\: Interest=400+420+441}}$

${\rm{Total\: Interest=Rs.\:1261}}$

${\rm{\underline{we\:know\:that,}}}$

${\longrightarrow{\rm{Amount\: returnable\:after\:3\:years=Principle+CI}}}$

${\longrightarrow{\rm{Amount\: returnable\:after\:3\:years=8000+1261}}}$

${\longrightarrow{\rm{Amount\: returnable\:after\:3\:years=Rs.\:9261}}}$