Question

The simple Interest of Rs.20,000
at the rate of Proterect 10% after
1year is​

Answer 1

Answer:

Principal for the first year = Rs. 20,000, rate = 5%, T = 1 year.

Interest for the first year =

100

20,000×1×5

=Rs.1,000 (using simple interest formula I=

100

P×T

1

×R

).

Principal for the second year = Rs. 20,000+1,000=Rs. 21,000.

Interest for the second year =

100

21,000×5

=Rs.1,050

Amount after 2 years = Rs. 21000 + 1050 = Rs. 22,050.

Compound interest = amount - principal = Rs. 22,050 - Rs. 20,000 = Rs. 2,050.

Hence the compound interest after 2 years is Rs. 2,050.

Simple interest on Rs. 20,000 for 2 years at the rate of 5% is

I=

100

20000×2×5

=Rs.2,000.

Answer 2

Step-by-step explanation:

Simple Interest = Principal Amount × Rate % × Time Period / 100

Principal = Rs. 20,000

Rate % = 10 % per annum

Time Period = 7 months = 7 / 12 year. = 0.58 years

Substituting in the formula we get,

SI = 20000 × 10 × 0.58 / 100

=> SI = 116000 / 100 = 1160

Hence the Simple Interest earned is Rs. 1160.

Hope my answer helped !