Question

Tanu takes a loan of Rs 72,000 from a bank at 8% simple interest per annum. What is the interest and amount Tanu has to pay to the bank after one year?​

Answer 1

Answer:

Tanu will have to pay Rupees 77760 .

Answer 2

Answer :-

◍ Tanu has to pay Rs. 5760 as interest and Rs. 77760 as the amount.

Given :-

✧ Principal (P) = Rs. 72,000

✧ Rate of interest (R) = 8%

✧ Time (T) = 1 year

Formula to be used :-

$\mapsto \: \tt{S.I. = \dfrac{Principal \times Rate \: \: of \: \: Interest \times Time}{100} }\\ \\ \mapsto \tt{Amount = S.I. + Principal}$

Solution :-

We have given principal, rate of interest and time and we will first find simple interest by substituting the values in the formula of simple interest.

$\tt{S.I. = \dfrac{Rs.\:\:72000 \times 8 \times 1}{100}} \\\\ \tt{=Rs.\:\:5760}$

Now, we will find the amount.

→ Amount = S.I. + P

→ Amount = Rs. 5760 + Rs. 72000

→ Amount = Rs. 77760

Hence,

S.I. = Rs. 5760

Amount = Rs. 77760.

More Information :-

• Simple Interest = (Principal × Rate of interest × Time)/100

• Time = (Simple Interest × 100)/(Principal × Rate of interest)

• Principal = (Simple Interest × 100)/(Time × Rate of interest)

• Rate of interest = (Simple Interest × 100)/(Principal × Time)

• Simple Interest = Amount - Principal