Question

Vijay borrowed 1400rs from his friend at 8%per annum simple interest he returned money after 2 year with interest how much he pay?​

Answer 1

In the question it is stated that Vijay borrowed 1400rs from his friend at 8% per annum simple interest he returned money after 2 year with interest. So here , we are asked to find out the interest he pay.

For that , first we will be going to use simple interest formula ::

$\: \: \: \:{\underline{\dag{\sf{Finding\: Simple \: interest:-}}}}$

${\boxed{\star{\sf{Simple \: interest = Prn }}}}$

From Given we know ::

• Principal(P) = Rs.1400

• Rate of interest (r) = 8 %

• Time(n) = 2 years

Have to find :;

• Amount to be paid = ?

Substituting the respective values, we get ::

$:\implies\sf Simple \: interest = 1400 \times 8 \% \times 2 \\\\ :\implies\sf Simple \: interest = 1400\times \dfrac{8}{100} \times 2$

$:\implies\sf Simple \: interest = 14\times 8 \times 2$

$:\implies\sf Simple \: interest = 14\times 16$

$:\implies\bf Simple \: interest = 224$

Now ,for amount ::

$:\implies\sf Total \: amount = Principal + Simple \: interest \\\\ :\implies\sf Total \: money = Rs.(1400 + 224)$

Hence,

${\boxed{\therefore {\sf {Total \: Money \: he \: paid = {\red{Rs. 1624}} }}}}$

Vijay paid Rs. 1624 after 2 years.

Answer 2

Question :-

• Vijay borrowed 1400rs from his friend at 8%per annum simple interest he returned money after 2 year with interest how much he pay ?

Given :-

• Money Vijay borrowed = Rs. 1400
• Interest rate = 8%
• Time = 2years

To find :-

• Money he have to pay back.

Formula to be used :-

• Simple interest = P × R × T

where ,

• P = principal
• R = Rate of interest
• T = Time period.

ㅤ‎ㅤ‎ㅤ‎ㅤ‎____________

• Amount = Principal + Simple interest

Solution :-

Simple interest = P × R × T

ㅤ‎ㅤ‎ㅤ‎ㅤ=> I = 1400 × 8% × 2

ㅤ‎ㅤ‎ㅤ‎ㅤ‎=> I = 1400 × 8/100 × 2

ㅤ‎ㅤ‎ㅤ‎ㅤ‎=> I = Rs. 224

Simple interest = Rs. 224

ㅤ‎ㅤ‎ㅤ‎ㅤ‎ㅤ‎___________________

• Amount = P + I

ㅤ‎ㅤ‎ㅤ‎• A = 1400 + 224

ㅤ‎ㅤ‎ㅤ‎• A = 1624

Amount = Rs. 1624.