The interest on ₹515 is ₹55 in a certain time period. Find the interest on ₹927 in the same time period.
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Answers
Step-by-step explanation:
Given :-
The interest on ₹515 is ₹55 in a certain time period.
To find :-
The interest on ₹927 in the same time period.
Solution :-
Given that
The principal (P) = ₹515
Simple Interest (S.I) = ₹55
Let the time be T years
Let the Rate of Interest be R %
We know that
Simple Interest = PTR/100
=> 55 = (515×T×R)/100
=> 55 = 515TR/100
=> 55 = 103TR/20
=> 55×20 = 103TR
=> 1100 = 103TR
=> 103TR = 1100
=> TR = 1100/103
=> T = 1100/(103R) Years
Therefore, Time = 1100/(103R) Years
Since , Time periods are same.
Rate of interest = R%
Since, Rate of Interests are same
Given that
Principal (P) = ₹927
Time (T) = 1100/(103R) Years
We know that
Simple Interest = PTR/100
=> SI = (927×1100×R)/(103R×100)
=> SI = 927×11/103
=> SI = 9×11
=> SI = 99
Therefore, Simple Interest = ₹99
Answer :-
The required Simple Interest is ₹99
Used formulae:-
→ Simple Interest = PTR/100
- P = Principal
- T = Time
- R = Rate of Interest
Information mentioned in above question :
- The interest on ₹515 is ₹55 in a certain time period.
What we have to find out :
- The required interest on ₹927 in the same time period
Assumption :
Consider the the time be t years and rate be r %
Formula used :
where ,
- P = Principal,
- R = Rate of Interest in % per annum
- T = Time to calculated the number of years.
- The rate of interest is in percentage r% and is to be written as r/100.
We have :
➡ Principal (P ) = ₹515
➡Rate (R) = r
➡ Time (T) = t
➡ Simple Interest (S.I ) = ₹55
Calculation :
- Put the given values in above formula and solve
Now :
- For ₹927 by using the same formula and by putting the above values we get :
➡ Principal (P ) = ₹ 927
➡Rate (R) = 55 / 5.15 t
➡ Time (T) = t
Therefore :
- The required interest on ₹927 in the same time period is ₹ 99