Question

Vanitha and Ramya are living in Mathur village. Vanitha went to UCO Bank , Kalapet and borrows loan of Rs 25000 at 10 % per annum for 3 years at simple interest. Ramya borrows the same amount for the same period at 10 % p.a compounded annually from her friend.
1.How much interest was paid by Vanitha ?

2.What is the Amount paid by Vanitha to UCO Bank after 3 Years ?

3. How much interest was paid by Ramya?

4.What is the Amount paid by Ramya to her friend after 3 Years ?

5.What is the Difference of amount paid between Vanitha and Ramya

Answer 1

Answer:

The answers for the questions are as follows:
1) ₹ 7500
2 ₹ 32500
3) ₹ 8275
4) ₹ 33275
5) ₹ 775

Step-by-step explanation:

Q1. How much interest was paid by Vanitha?
Sol.  Given,
       Principal = ₹25000
       Rate = 10% p.a
       Time = 3 years
According to formulae,
$S.I= \frac{P R T}{100}$ ⇒ $\frac{25000 *10*3}{100}$ = 2500 x 3 = ₹7500
∴ Vanitha paid an interest of ₹7500.

Q2. What is the amount paid by Vanitha to UCO bank after 3 years?
Sol. Amount paid by vanitha after 3 years = P + S.I
                                                                       = 25000 + 7500 = ₹32500

The amount paid by vanitha after 3 years is ₹32500

Q3. How much interest was paid by Ramya?
Sol. Given,
      Principal = ₹25000
      Rate = 10% p.a.
      Time = 3 years
Since it is compounded annually,
A = $P\frac{1+R}{100}^n$  = $25000[\frac{1+10}{100}] ^3$
⇒  $25000[\frac{110}{100}]^3$
⇒ $25000\frac{11}{10} *\frac{11}{10} *\frac{11}{10}$ = 25 x 1331 = ₹33275

∵ Amount is ₹33275.

Now, C.I = A- P
         C.I = ₹33275 - ₹25000
              = ₹8275
The Compound interest is ₹8275

Q4. What is the amount paid by Ramya to her friend after three years?
Sol.  Amount paid by ramya after three years = P+ C.I
                                                                             = 25000 + 8275
                                                                              = ₹ 33275

The amount paid by Ramya to her friend is ₹33275

Q5. What is the difference of amount paid between Vanitha and Ramya?
Sol.  Amount paid by Vanitha = ₹33275
        Amount  paid by Ramya = ₹ 32500

Difference between the amounts paid by Vanitha and Ramya =
33275 - 32500 = ₹775

∴ The difference in amount paid by Vanitha and Ramya is ₹750

Hope this helps!