Question

The Simple interest on a certain sum of money at 8% per annum for 2 years is Rs 200.Find the sum​

Answer 1

Answer:

Given:

Simple interest =₹ 2400

Interest rate =8% per annum

Time =2 years

We know that simple interest (SI)=PTR/100

where P is principle amount, T is time taken, R is rate per annum

So,

2400=(P×2×8)/100

On rearranging we get,

P=2400×25 = ₹\ 15000$$

Hence, the sum is ₹ 15000.

To find the amount we have the formula,

Amount (A)=P(1+(r/100))

n

where P is present value, r is rate of interest, n is time in years.

Now substituting the values in above formula we get,

∴A=15000(1+8/100)

2

⇒A=15000(108/100)

2

⇒A=600(27/25)

2

⇒A=24(27)(27)

⇒A=₹ 17496

And Compound interest =A–P

=17496–15000=₹ 2496

Answer 2

To find :

the sum on which the simple interest is calculated.

Given :

• time = 2 years
• rate = 8% pa
• SI = Rs 200

Formula to be used :

• SI = PTR/100
• P = 100SI/TR

Solution :

given, The Interest = Rs 200

Time = 2 years

Rate = 8% pa

hence, P = 100SI/TR

$\implies \bold{p = \: \frac{ \cancel{100} \times \cancel{200}}{ \cancel2 \times \cancel 8} }$

$\implies \bold{p = 50 \times 25}$

$\implies \bold{p = 1250}$

hence, The principle is Rs 1250