Question

Shamol Chakma borrowed 5400 Taka from a bank and an annual interest of 9% is always

charged on the principal.

a) How much Taka would he pay back after 7 years later?

b) In how many years the annual interest will be summed up to 5832 Taka?​

Answer 1

Principal (P) = 5400 Taka

Rate (R) = 9% per annum

Time (T) = 7 Years

a) As we have to find total money which have to be paid after 7 yrs by Shamol Chakma, so we will have to find Amount ie. (Principal + SI)

Therefore,

SI = PRT/100

= 5400 × 9 × 7/100 = 3402 Taka

Amount = Principal + SI = (5400 + 3402) Taka = 8802 Taka

b) Given:- SI = 5832 Taka

Rate (R) = 9%

Principal = 5400 Taka

Therefore, Time = SI × 100 / P × R

= 5832 × 100 / 5400 × 9

= 583200 / 48600

= 12 Years